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2022-03-31-accounts

Charity number: 1180577

SINGLETON SPACES

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

SINGLETON SPACES

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 20

SINGLETON SPACES

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Trustees P Rogers
A Szocs (Resigned 15 November 2022)
C Perring
J A Tippen
M Wiffen
T Ackrill (Resigned 31 August 2022)
Charity registered
number
1180577
Principal office
Singleton Environment Centre
Wesley School Road
Ashford
TN23 5LW
Accountants
Magee Gammon
Chartered Accountants
Henwood House
Henwood
Ashford
Kent
TN24 8DH

Page 1

SINGLETON SPACES

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 March 2022.

Objectives and activities

a. Policies and objectives

The Charity exists to preserve, protect and improve the natural environment for the public benefit, in particular but not exclusively by promoting and supporting the creation and maintenance of green spaces through both example and education.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

On 11th March 2018 Singleton Spaces took over the running of Singleton Environment Centre (SEC) from The Conservation Volunteers (TCV) as the latter no longer considered the site to be a viable venue to pursue its’ objectives. Working with Ashford Borough Council (ABC), the lease was transferred to Great Chart with Singleton Parish Council (GCSPC) and a charitable trust, Singleton Spaces formed to take on the day-to-day running of the centre. Bringing the centre’s well-loved café ‘in house’ was seen as the key to generating revenue for the charity’s objectives. This, along with other income derived from renting office space to the education company Kumon and some paid-for activities at the centre has proved a successful model to finance the Trust’s objectives.

c. Activities undertaken to achieve objectives

As we entered the 2021-2022 financial year, the country was still in an extended lockdown resulting from the Covid-19 pandemic and restrictions continued throughout most of 2021, severely limiting the amount of activity SEC was able to undertake during this time. Once restrictions were lifted there was a slow return to the putting on of events, with some additional activities (Fungal Foray and Wild Bee Meadow Day) taking place off-site. Given the limitations to which we were subjected, the trustees are delighted to report the during the latter part of the year we were able to organise and host many activities.

At the time of writing (January 2023), March will see the five year anniversary of Singleton Spaces running Singleton Environment Centre (SEC).

Achievements and performance

a. Main achievements of the Charity

Below is a comprehensive list of the activities the Charity was able to provide for the public.

43 ‘Ecokids’ sessions

35 ‘Mini Professor’ sessions

10 Visits to the Centre by local schools

6 Volunteer led Activity/Open days for the public. These included pond dipping, nature trails, nature quizzes, scavenger days, butterfly identification as well as the RSPB ‘big garden bird watch’

4 Allotment/Plant Potting workshops

1 Bee talk

1 Fungal Foray (off site)

1 Wild Bee Meadow Day (off site)

1 Art and Craft Nature Themed workshop

Page 2

SINGLETON SPACES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

b. Factors relevant to achieve objectives

It had long been the desire of the Trustees to employ an Education Officer. Appreciating that our finances would not allow us a full-time position, but anxious to make a start we filled the role on a one-day per week basis, starting in November 2021. Over a period of time it became clear that this was the way forward and we have been able to increase the number of days per week to three, commencing January 2023.

There are now several groups that make weekly use of the centre:

Allotment Group

Knit and Natter Group

Woodwork Group

Sewing Circle Group (which recycles old paddling pools and tents into new items such as bags, pencil cases and other accessories)

Ashford Repair Café (now fixing a wide range of electrical, mechanical, fabric and ceramic items)

We have installed solar panels on to the roof of the recently completed lower site extension and the pond dipping platform has been fully replaced.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

The Charity aims to retain reserves equivalent to three months operating costs. A start has been made in establishing this reserve, but the essentially two-year hiatus caused by the pandemic has impacted the speed at which reserves have been accumulated.

Structure, governance and management

a. Constitution

Singleton Spaces is a registered charity, number 1180577, and is constituted under a Trust deed dated 2 November 2018.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Page 3

SINGLETON SPACES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, governance and management (continued)

c. Related party relationships

It should be noted that one trustee is also a Parish Councillor of GCSPC, while a second is employed by GCSPC as a parish steward. The trustees believe this relationship is of benefit to the Charity and that no trustee receives any personal benefit as a result of the relationship.

d. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The establishment of an Education Officer role was always seen as a significant step in expanding the educational ambitions of the Charity. Now this has come to fruition and although it remains in its’ infancy, it is already producing solid results. Plans to deliver education on sustainability to the business community are being formulated as well as involvement with local schools.

May I take this opportunity to extend my personal thanks to the staff, volunteers and Trustees, whose hard work makes the centre the success it is.

Statement of Trustees' responsibilities

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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

SINGLETON SPACES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Approved by order of the members of the board of Trustees on 27 January 2023 and signed on their behalf by:

................................................ M Wiffen (Chair of Trustees)

Page 5

SINGLETON SPACES

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022

Independent examiner's report to the Trustees of Singleton Spaces ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2022.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 2011 Act; or

  2. the accounts do not accord with those records; or

  3. 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 27 January 2023

Roland Parry FCA

Magee Gammon Corporate Limited Henwood House Henwood Ashford Kent TN24 8DH

Page 6

SINGLETON SPACES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2022
£
3,500
-
3,500
6,170
6,170
(2,670)
5,490
(2,670)
2,820		 Unrestricted
funds
2022
£
42,000
277,276
319,276
282,268
282,268
37,008
19,049
37,008
56,057		 Total
funds
2022
£
45,500
277,276
322,776
288,438
288,438
34,338
24,539
34,338
58,877		 Total
funds
2021
£
125,162
96,316
221,478
209,638
209,638
11,840
12,699
11,840
24,539

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 9 to 20 form part of these financial statements.

Page 7

SINGLETON SPACES

BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible assets
10
Current assets
Stocks
11
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets / liabilities
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 2,440
28,582
14,237
45,259
(10,034)		 2022
£
23,652
35,225
58,877
2,820
56,057
58,877		 2,380
982
29,316
32,678
(24,548)		 2021
£
16,409
8,130
24,539
5,490
19,049
24,539

The financial statements were approved and authorised for issue by the Trustees on 27 January 2023 and signed on their behalf by:

................................................

M Wiffen

(Chair of Trustees)

The notes on pages 9 to 20 form part of these financial statements.

Page 8

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. General information

Singleton Spaces is a charity registered in England and Wales under number 1180577. The principal office is Singleton Environment Centre, Wesley School Road, Ashford, Kent, TB23 5LW.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Singleton Spaces meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 9

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.4 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £150 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery - 15%
Fixtures and fittings - 15%
Computer equipment - 25%

2.6 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 10

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Income from donations and legacies

Donations
Grants
Donations
Grants		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
7,427
3,500
34,573
3,500
42,000
Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
2,179
8,400
114,583
8,400
116,762		 Total
funds
2022
£
7,427
38,073
45,500
Total
funds
2021
£
2,179
122,983
125,162

Page 11

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

4. Income from charitable activities

Unrestricted
funds
2022
£
Cafe
226,760
Conference Hire and Catering
35,732
Rental Income
14,784
277,276
Unrestricted
funds
2021
£
Cafe
71,745
Conference Hire and Catering
12,071
Rental Income
12,500
96,316		 Total
funds
2022
£
226,760
35,732
14,784
277,276
Total
funds
2021
£
71,745
12,071
12,500
96,316

Page 12

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

5. Analysis of expenditure on charitable activities

Summary by fund type

Environment Centre
Environment centre		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
6,170
282,268
Restricted
funds
2021
Unrestricted
funds
2021
£
£
1,460
208,178		 Total
2022
£
288,438
Total
2021
£
209,638

6. Analysis of expenditure by activities

Environment Centre
Environment Centre		 Activities
undertaken
directly
2022
£
286,303
Activities
undertaken
directly
2021
£
205,938		 Support
costs
2022
£
2,135
Support
costs
2021
£
3,700		 Total
funds
2022
£
288,438
Total
funds
2021
£
209,638

Page 13

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation
Cafe supplies
Utilities
Building and grounds maintenance
Centre operating supplies
Cleaning and janitorial
Health and safety and security
Waste management
Communications and IT
Subscriptions
Educational and environmental activities
Uniforms and staff welfare
Banking, insurance and administration		 Total
funds
2022
£
170,958
4,896
68,314
9,765
8,539
2,863
4,006
5,018
1,770
3,737
639
188
1,852
3,758
286,303		 Total
funds
2021
£
143,330
2,811
29,556
9,364
3,982
6,323
1,529
1,090
1,500
2,059
295
522
128
3,449
205,938

Analysis of support costs

Total Total
funds funds
2022 2021
£ £
Accountancy 2,135 3,700

7. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £1,630 ( 2021 - £2,000 ).

Page 14

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. Staff costs

2022
£
Wages and salaries
155,529
Social security costs
11,442
Contribution to defined contribution pension schemes
3,987
170,958
The average number of persons employed by the Charity during the year was as follows:
2022
No.
Staff
10		 2021
£
129,898
9,735
3,697
143,330
2021
No.
7

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL) .

Page 15

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

10. Tangible fixed assets

Cost or valuation
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
11.
Stocks
Finished goods and goods for resale
12.
Debtors
Due within one year
Trade debtors
Other debtors		 Plant and
machinery
£
17,237
2,035
19,272
4,532
2,834
7,366
11,906
12,705		 Fixtures and
fittings
£
4,371
9,337
13,708
984
1,722
2,706
11,002
3,387		 Computer
equipment
£
847
767
1,614
530
340
870
744
317
2022
£
2,440
2022
£
4,873
23,709
28,582		 Total
£
22,455
12,139
34,594
6,046
4,896
10,942
23,652
16,409
2021
£
2,380
2021
£
982
-
982

Page 16

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2022
£
6,618
470
-
2,946
10,034		 2021
£
2,770
11,499
823
9,456
24,548
14. Financial instruments
2022 2021
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 14,237 29,316

Financial assets measured at fair value through income and expenditure comprise cash and bank balances.

Page 17

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Kent Community Foundation
Ashford Borough Council
Kent County Council
Total of funds
Statement of funds - prior year
Balance at
1 April 2020
£
Unrestricted funds
General Funds
12,699
Restricted funds
Kent Community Foundation
-
Ashford Borough Council
-
Kent County Council
-
-
Total of funds
12,699		 Balance at 1
April 2021
£
19,049
487
2,049
2,954
5,490
24,539
Income
£
213,078
1,000
2,300
5,100
8,400
221,478		 Income
£
319,276
-
1,500
2,000
3,500
322,776
Expenditure
£
(208,178)
(513)
(251)
(696)
(1,460)
(209,638)		 Expenditure
£
(282,268)
(487)
(2,302)
(3,381)
(6,170)
(288,438)
Transfers
in/out
£
1,450
-
-
(1,450)
(1,450)
-		 Balance at
31 March
2022
£
56,057
-
1,247
1,573
2,820
58,877
Balance at
31 March
2021
£
19,049
Unrestricted funds
General Funds
Restricted funds
Kent Community Foundation
Ashford Borough Council
Kent County Council
Total of funds
487
2,049
2,954
5,490
24,539

Page 18

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16. Funds

Kent Community Foundation - grant to allow the development and upgrade of the allotment area.

Ashford Borough Council - grants to fund furniture and equipment for use by the charity.

Kent County Council - grants to fund the conversion of the Yew Room to a satellite kitchen and to support educational activities and school visits.

17. Transfers

Transfers from restricted funds to unrestricted funds represent the use of restricted funds to purchase capital assets to be used as part of the normal operating activities of the charity.

18. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 Balance at
1 April 2020
£
12,699
-
12,699		 Balance at 1
April 2021
£
19,049
5,490
24,539
Income
£
213,078
8,400
221,478		 Income
£
319,276
3,500
322,776
Expenditure
£
(208,178)
(1,460)
(209,638)		 Expenditure
£
(282,268)
(6,170)
(288,438)
Transfers
in/out
£
1,450
(1,450)
-		 Balance at
31 March
2022
£
56,057
2,820
58,877
Balance at
31 March
2021
£
19,049
5,490
Summary of funds - prior year
General funds
Restricted funds
24,539

Page 19

SINGLETON SPACES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
23,652
2,820
42,439
-
(10,034)
2,820
56,057		 Total
funds
2022
£
23,652
45,259
(10,034)
58,877

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2021
£
-
5,490
-
5,490		 Unrestricted
funds
2021
£
16,409
27,188
(24,548)
19,049		 Total
funds
2021
£
16,409
32,678
(24,548)
24,539

20. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,987 (2021 - £3,697). A total of £Nil (2021 - £823) was payable to the fund at the balance sheet date and are included in creditors.

21. Operating lease commitments

The Charity leases the property at a peppercorn rate over a period of 25 years to 2043.

22. Related party transactions

The Charity is related to Great Chart with Singleton Parish Council by virtue of some trustees also being parish councillors. The property is leased from the Parish Council. The trustees act independently to the Parish Council.

In other respects, the Charity has no transactions with related parties (2021 - £Nil).

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