| Pages | ||
|---|---|---|
| Trustee's Annua I Report |
||
| Independent Examiner's |
Report | |
| Statement of Financial Activities |
||
| Balance Sheet | ||
| Statement ofCash flows |
||
| Notes to the Accounts | 8to 13 | |
| Detailed Statement of Financial Activities | 14to 15 |
| forthe year | ended 31January | 2023 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| funds | funds | Total funds | Total funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| Notes | f | E | E | E | ||
| Income and | endowments | |||||
| from: | ||||||
| Donations | and legacies | 5,101 | 5,101 | |||
| Charitable | activities | 20,000 | 20,000 | 25,000 | ||
| Investments | 500 | 500 | 500 | |||
| Total | 5,601 | 20,000 | 25,601 | 25,500 | ||
| Expenditure | on: | |||||
| Raising funds | 1,642 | |||||
| Charitable | activities | 11,551 | 3,388 | 14,939 | 9,867 | |
| Other | 13,881 | 13,881 | 13,381 | |||
| Total | 11,551 | 17,269 | 28,820 | 24,890 | ||
| Net gains on | investments | |||||
| Net (expenditure)/income | (5,950) | 2,731 | (3,219) | 610 | ||
| Transfers between funds |
||||||
| Net (expenditure)/income before other gains/(iosses) |
(5,950) | 2,731 | (3,219) | 610 | ||
| Other gains | and losses | |||||
| Net movement in funds |
(5,950) | 2,731 | (3,219) | 610 | ||
| Reconciliation offunds: |
||||||
| Total funds brought forward | 30,442 | 17,379 | 47,821 | 47,211 | ||
| Total funds carried forward | 24,492 | 20,110 | 44,602 | 47,821 |
| MIDSOMER NORTON Balance Sheet at 31January 2023 |
MIDSOMER NORTON Balance Sheet at 31January 2023 |
TOWN TRUST | |||
|---|---|---|---|---|---|
| Charity No. 1180810 | 2023 | 2022 | |||
| 6 | 6 | ||||
| Fixed assets | |||||
| Tangible assets | 11 | 2,249 | 2,999 | ||
| 2,249 | 2,999 | ||||
| Current assets | |||||
| Cash at bank and in hand | 43,614 | 45,454 | |||
| 43,614 | 45,454 | ||||
| Creditors: Amount | falling due within one year | 12 | (1,261) | (632) | |
| Net current assets | 42,353 | 44,822 | |||
| Total assets less current liabilities | 44,602 | 47,821 | |||
| Net assets excluding | pension asset or liability | 44,602 | 47,821 | ||
| Total net assets | 44,602 | 47,821 | |||
| The funds ofthe charity | |||||
| Restricted funds | |||||
| Restricted income |
funds | 20,110 | 17,379 | ||
| 20,110 | 17,379 | ||||
| Unrestricted funds |
13 | ||||
| General funds | 24,492 | 30,442 | |||
| 24,492 | 30,442 | ||||
| Reserves | 13 | ||||
| Total funds | 44,602 | 47,821 |
| 2023 | 2022 | ||
|---|---|---|---|
| f | 6 | ||
| Cash flows from operating | activities | ||
| Net (expenditure)/income | per Statement ofFinancial Activities | (3,219) | 611 |
| Adjustments for: |
|||
| Depreciation ofproperty, plant and equipment |
750 | 999 | |
| Dividends, interest and |
rents from investments | (500) | (500) |
| Increase/(Decrease) in |
trade and other payables | 629 | (2,436) |
| Net cash used in operating | activities | (2,340) | (1,326) |
| Cash flows from investing | activities | ||
| Dividends, interest and |
rents from investments | 500 | 500 |
| Net cash from investing activities |
500 | 500 | |
| Net cash from financing activities | |||
| Net decrease in cash and cash equivalents | (1,840) | (826) | |
| Cash and cash equivalents | at the beginning ofthe year | 45,454 | 46,280 |
| Cash and cash equivalents | at the end ofthe year | 43,614 | 45,454 |
| Components ofcash and cash equivalents |
|||
| Cash and bank balances | 43,614 | 45,454 | |
| 43,614 | 45,454 |
| Charities Act 20 | Charities Act 20 | Charities Act 20 | 11. | 11. | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Change in basis | ofaccounting orto previous accounts |
|||||||||
| There has been | no change tothe accounting policies (valuation rules and method |
ofaccounting) | since | |||||||
| last year and | no changes have been made to accounts for previous years. |
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| Fund accounting | ||||||||||
| Unrestricted | funds | These are available for use at the discretion ofthe trustees | in furtherance | of | the | |||||
| general objects ofthe charity. | ||||||||||
| Designated | funds | These are unrestricted funds earmarked by the trustees for particular purposes. |
||||||||
| Revaluation | funds | These are unrestricted funds which include a revaluation |
reserve representing | the | ||||||
| restatement ofinvestment assets at their market values. |
||||||||||
| Restricted funds | These are available for use subject to restrictions imposed |
by the donor or | ||||||||
| through terms ofan appeal. |
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| Income | ||||||||||
| Recognition | of | Income is included in the Statement ofFinancial Activities |
(SoFA) when the | charity | ||||||
| income | becomes entitled to, and virtually certain to receive, the |
income and the | amount | |||||||
| ofthe income can be measured with sufficient reliability. |
||||||||||
| Income with | related | Where income has related expenditure the income and related expenditure |
is | |||||||
| expenditure | reported gross in the SoFA. |
|||||||||
| Donations | and | Voluntary income received by way ofgrants, donations and gifts is included |
in | the | ||||||
| legacies | the SoFA when receivable and only when the Charity has | unconditional | ||||||||
| entitlement to the income. |
||||||||||
| Tax reclaims | on | Income from tax reclaims is included in the SoFA atthe same time as the |
||||||||
| donations | and | gifts | gift/donation to which it relates. |
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| Donated services | These are only included in income (with an equivalent amount in expenditure) |
|||||||||
| and facilities | where the benefit to the Charity is reasonably quantifiable, |
measurable | and | |||||||
| material. | ||||||||||
| Volunteer | help | The value ofany volunteer help received is not included |
in the accounts. | |||||||
| Investment | income | This is included in the accounts when receivable. |
||||||||
| Gains/(losses} | on | This includes any gain or loss resulting from revaluing investments to market |
value | |||||||
| revaluation | of | fixed | at the end ofthe year. | |||||||
| assets | ||||||||||
| Gains/(losses) | on | This includes any gain or loss on the sale of investments. |
||||||||
| investment | assets |
| es to the Ac | counts | ||
|---|---|---|---|
| Expenditure | |||
| Recognition | of | Expenditure is recognised on an accruals basis. Expenditure includes any VAT |
|
| expenditure | which cannot be fully recovered, and is reported as |
part ofthe expenditure to |
|
| which it relates. |
|||
| Expenditure | on | These comprise the costs associated with attracting | voluntary income, fundraising |
| raising funds | trading costs and investment management costs. |
||
| Expenditure | on | These comprise the costs incurred by the Charity in |
the delivery ofits activities |
| charitable activities |
and services in the furtherance of its objects, including the making ofgrants and |
||
| governance costs. |
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| Grants payable | All grant expenditure is accounted for on an actual paid basis plus an accrual for |
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| grants that have been approved by the trustees at the end ofthe year but not yet |
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| pal cl. | |||
| Governance | costs | These include those costs associated with meeting the constitutional and |
|
| statutory requirements ofthe Charity, including any |
audit/independent | ||
| examination fees, costs linked tothe strategic management ofthe Charity, |
|||
| together with a share ofother administration costs. |
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| Other expenditure | These are support costs not allocated to a particular | activity. | |
| Taxation | |||
| The charity | is exempt | from tax on its charitable activities. |
| 2 | Stateme | nt | ofFinancial | A | ctivities- prior year |
|||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||||
| funds | funds | Total funds | ||||||
| 2022 | 2022 | 2022 | ||||||
| Income and | endowments | from: | ||||||
| Charitable | activities | 25,000 | 25,000 | |||||
| Investments | 500 | 500 | ||||||
| Total | 500 | 25,000 | 25,500 | |||||
| Expenditure | on: | |||||||
| Raising | funds | 1,642 | 1,642 | |||||
| Charitable | activities | 9,867 | 9,867 | |||||
| Other | 13,380 | 13,380 | ||||||
| Total | 24,889 | 24,889 | ||||||
| Net | income | 500 | 611 | |||||
| Net | income | before other horn |
500 | 611 | ||||
| gains/(losses) | ||||||||
| Other gains | and losses: | |||||||
| Net | movement | in funds | 500 | 611 | ||||
| Reconciliation | offunds: | |||||||
| Total funds | brought forward | 29,832 | 17,379 | 47,211 | ||||
| Total funds | carried forward | 30,332 | 17,490 | 47,822 | ||||
| 3 | Income | donations | and legacies | |||||
| Unrestricted | Total | Total | ||||||
| 2023 | 2022 | |||||||
| Donations | received | 5,101 | 5,101 | |||||
| 5,101 | 5,101 | |||||||
| 4 | Income | from charitable | activities | |||||
| Restricted | Total | Total | ||||||
| 2023 | 2022 | |||||||
| Midsomer | Norton Town | 20,000 | 20,000 | 25,000 | ||||
| Council | ||||||||
| 20,000 | 20,000 | 25,000 |
| 5 | Income from | investments | investments | investments | |||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||||||
| 2023 | 2022 | ||||||||
| Rent ofSomer Centre | 500 | 500 | 500 | ||||||
| 500 | 500 | 500 | |||||||
| 6 | Expenditure | on raising | funds | ||||||
| Total | Total | ||||||||
| 2023 | 2022 | ||||||||
| Costs ofgenerating | voluntary | ||||||||
| income | |||||||||
| Raising funds forthe town hall transformation project |
1,642 | ||||||||
| 1,642 | |||||||||
| 7 | Expenditure | on charitable | activities | ||||||
| Unrestricted | Restricted | Total | Total | ||||||
| 2023 | 2022 | ||||||||
| E | E | E | |||||||
| Expenditure | on charitable | ||||||||
| activities | |||||||||
| Greenwood Hall |
Projects | Town | 11,551 | 11,551 | |||||
| Town Park Path | 1,559 | ||||||||
| Governance | costs | ||||||||
| Legal Fees | 2,758 | 2,758 | 7,678 | ||||||
| Accountancy | fees | 630 | 630 | 630 | |||||
| 11,551 | 3,388 | 14,939 | 9,867 | ||||||
| 8 | Other expenditure | ||||||||
| Restricted | Total | Total | |||||||
| 2023 | 2022 | ||||||||
| Employee costs | 9,786 | 9,786 | 6,869 | ||||||
| Premises costs | 2,641 | 2,641 | 3,493 | ||||||
| Amortisatton, | depreciation, | ||||||||
| impairment, | profit/loss | on | 750 | 750 | 999 | ||||
| disposal ofFixed assets | |||||||||
| General administrative | costs | 704 | 704 | 1,708 | |||||
| Legal and professional | costs | 312 | |||||||
| 13,881 | 13,881 | 13,381 |
| 9 | Net (expenditure)/income | before | ||||
|---|---|---|---|---|---|---|
| transfers | ||||||
| 2023 | 2022 | |||||
| This is stated after charging: | E | E | ||||
| Depreciation ofowned fixed assets |
750 | 999 | ||||
| 10 | Staff costs | |||||
| 2023 | 2022 | |||||
| Salaries and wages | 9,786 | 6,869 | ||||
| 9,786 | 6,869 | |||||
| No employee received emoluments |
in excess ofE60,000. | |||||
| 11 | Tangible fixed assets | |||||
| Land and | ||||||
| buildings | Equipment | Total | ||||
| E | E | |||||
| Cost or revaluation | ||||||
| At 1February 2022 | 1 | 5,329 | 5,330 | |||
| At 31January 2023 | 1 | 5,329 | 5,330 | |||
| Depreciation and |
||||||
| impairment | ||||||
| At 1February 2022 | 2,331 | 2,331 | ||||
| Depreciation charge forthe |
750 | 750 | ||||
| year | ||||||
| At31January 2023 | 3,081 | 3,081 | ||||
| Net book values | ||||||
| At 31January 2023 | 1 | 2,248 | 2,249 | |||
| At 31January 2022 | 1 | 2,998 | 2,999 | |||
| Net book values of assets | ||||||
| held under finance leases | ||||||
| and hire purchase contracts | ||||||
| and included above |
| Creditors: amounts falling due within one year |
||
|---|---|---|
| 2023 | 2022 | |
| E | E | |
| Accruals | 1,261 | 632 |
| 1,261 | 632 |
| Movement | in funds | ||||
|---|---|---|---|---|---|
| Incoming | |||||
| resources | At 31 | ||||
| At 1 February |
(including other |
Resources expended |
January 2023 |
||
| 2022 | gains/losses) | ||||
| E | |||||
| Restricted funds: | |||||
| Restricted income funds: | |||||
| Town Trust | Office and Trust | ||||
| Secretary Grant | 12,500 | 20,000 | (16,173) | 16,327 | |
| CCTV Grant | 4,879 | (1,096) | 3,783 | ||
| Total | 17,379 | 20,000 | (17,269) | 20,110 | |
| Unrestricted | funds: | ||||
| General funds | 30,442 | 5,601 | (11,551) | 24,492 | |
| Total funds | 47,821 | 25,601 | (28,820) | 44,602 |
| 14 | Analysis ofne | t assets between funds |
|||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| Total | |||||
| funds | funds | ||||
| E | f | E | |||
| Fixed assets | 1 | 2,248 | 2,249 | ||
| Net current assets | 24,491 | 17,862 | 42,353 | ||
| 24,492 | 20,110 | 44,602 | |||
| 15 | Reconciliation | ofnet debt | |||
| At 1 | At31 | ||||
| February | January | ||||
| 2022 | Cash flows | 2023 | |||
| E | E | f | |||
| Cash and cash | equivalents | 45,454 | (1,840) | 43,614 | |
| 45,454 | (1,840) | 43,614 | |||
| Net debt | 45,454 | (1,840) | 43,614 |
| for the year ended 3 | 1 | Jan | uary | 2023 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||||
| funds | funds | Total funds | Total funds | ||||||
| 2023 | 2023 | 2023 | 2022 | ||||||
| E | E | E | E | ||||||
| Income and endowments | from: | ||||||||
| Donations and legacies |
|||||||||
| Donations received |
5,101 | 5,101 | |||||||
| 5,101 | 5,101 | ||||||||
| Charitable activities |
|||||||||
| Midsomer Norton Town |
Council | 20,000 | 20,000 | 25,000 | |||||
| 20,000 | 20,000 | 25,000 | |||||||
| Investments | |||||||||
| Rent ofSomer Centre | 500 | 500 | 500 | ||||||
| 500 | 500 | 500 | |||||||
| Total income and endowments | 5,601 | 20,000 | 25,601 | 25,500 | |||||
| Expenditure on: |
|||||||||
| Costs ofgenerating | donations | and | |||||||
| legacies | |||||||||
| Raising funds forthe | town | hall | 1,642 | ||||||
| transformation project |
|||||||||
| 1,642 | |||||||||
| Total ofexpenditure | on | raising | 1,642 | ||||||
| funds | |||||||||
| Charitable activities |
|||||||||
| Greenwood Projects |
Town | Hall | 11,551 | 11,551 | |||||
| Town Park Path | 1,559 | ||||||||
| 11,551 | 11,551 | 1,559 | |||||||
| Governance costs |
|||||||||
| Legal Fees Accountancy fees |
2,758 630 |
2,758 630 |
7,678 630 |
||||||
| 3,388 | 3,388 | 8,308 | |||||||
| Total ofexpenditure | on | charitable | 11,551 | 3,388 | 14,939 | 9,867 | |||
| activities | |||||||||
| Employee costs Salaries/wages |
9,786 | 9,786 | 6,869 | ||||||
| 9,786 | 9,786 | 6,869 | |||||||
| Premises costs | |||||||||
| Light, heat and power | 464 | 464 | 241 | ||||||
| Premises repairs |
and | 2,177 | 2,177 | 3,252 | |||||
| maintenance | |||||||||
| 2,641 | 2,641 | 3,493 |
| MIDSOMER NORTON TOWN TRUST Detailed Statement of Financial Activities |
MIDSOMER NORTON TOWN TRUST Detailed Statement of Financial Activities |
||||
|---|---|---|---|---|---|
| General administrative costs, |
|||||
| including depreciation and |
|||||
| amortisation | |||||
| Depreciation of Equipment |
750 | 750 | 999 | ||
| Bank charges | 72 | 72 | 72 | ||
| General insurances |
215 | 215 | 329 | ||
| Software, ITsupport and costs |
related | 129 | 129 | 1,163 | |
| Sundry expenses | 121 | 121 | 25 | ||
| Telephone, fax and broadband | 167 | 167 | 119 | ||
| 1,454 | 1,454 | 2,707 | |||
| Legal and professional costs |
|||||
| Accountancy and bookkeeping |
312 | ||||
| 312 | |||||
| Total ofexpenditure ofother costs |
13,881 | 13,881 | 13,381 | ||
| Total expenditure | 11,551 | 17,269 | 28,820 | 24,890 | |
| Net gains on investments | |||||
| Net (expenditure)/income | (5,950) | 2,731 | (3,219) | 610 | |
| Net (expenditure)/income other gains/(losses) |
before | (5,950) | 2,731 | (3,219) | 610 |
| Other Gains | |||||
| Net movement in funds |
(5,950) | 2,731 | (3,219) | 610 | |
| Reconciliation offunds: |
|||||
| Total funds brought forward | 30,442 | 17,379 | 47,821 | 47,211 | |
| Total funds carried forward | 24,492 | 20,110 | 44,602 | 47,821 |