rriib IN 2022 Fleetwood ,Trust ANNUAL REPORT
Contents
Foreword from Lord Tom – Chairman .............3
From the Prince's Foundation ........................3 Report of The Trustees .................................4
Independent Examiner's Report .....................7
Statement of Financial Activities ....................8 Balance Sheet ........................................10
Notes to the Financial Statements ...............13
Detailed Statement of Financial Activities ......20
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2022
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Fleetwood Trust Annual Review
Foreword from Lord Tom McNally – Chairman
I am grateful to our professional advisers and to our Honorary Treasurer, Rebecca Murdoch and our Chief Executive, Charley Wilkinson for enabling the Trust to deliver these accounts on time and in good order. This has been a difficult year for the charitable sector, both doners and recipients. COVID cast a long, dark shadow over the fund-raising activities of both. Nevertheless, the Fleetwood Trust has been able to make steady progress in our ambition to turn the building into a multi-purpose, cross discipline hub providing a range of health, housing, educational and social services by and for the people of Fleetwood. We have worked closely with our local authorities and central government departments to identify sources of funding from the various funds available where and when our objectives coincide with various and local funding schemes. We also continue to seek funding from local and national charities.
I am grateful to all the Trustees for their help and support and thank in particular two retiring members: Canon John Hall, one of the key moving spirits behind establishing the Fleetwood Trust and Elise Hadgraft, our youth representative, who has left to continue her studies at university. I would also like to thank Garry Payne, the retiring Chief Executive Officer of Wyre Borough Council, for his help, advice and support. The iconic Fleetwood Hospital is slowly returning to life in its new role as a community service hub. Its potential is immense and the need for it is immediate. That makes it all the more frustrating to have the mismatch between immediate needs and our capacity to meet those needs . That is why fund-raising must remain an immediate priority for the Trust.
Rt.Hon. Lord McNally, Chairman of the Fleetwood Trust.
Charley Wilkinson - CEO
Fleetwood Trust has continued to develop the community hub during what remained a difficult year following the pandemic where fundraising remaining challenging. However we have made steps in our development and ambition to deliver services to the community through the development of a hub, a space for the community to access and to be proud of.
We have worked with some fantastic partners locally and nationally this includes health, education and housing amongst others alongside various funders to ring our vision to life and we are incredibly proud of what we have achieved to date.
We remain committed to continuing on this path and look forward to what the next year brings.
We would like to thank our professional advisors Mason Gillibrand Architects, Shelby construction consultants and MarkSafety for their work, advice and friendship.
Fleetwood Trust Annual Review
Report of The Trustees For The Year Ended 31 May 2021
Fleetwood Trust Annual Review
STRUCTURE, GOVER)ANCE AND MANAGEMENT Governing document The Charily is (ioverned by it's Articles of Association. Charity Constitution The Chaiity is an Incorporated Company Limited by Guarantee. Recryitment and appointment of new trustees Should tht need dfise to ieLlUIt new tTUStetb the clwity will lollow charities Cominission guidance in recruiting and appointing new tn]Stees with the Tequired skill set. Suitable induction procedures and training will be provided in the event of a new twstee being appointed. Decision making The Board meets on a Bi-monthly basis, in Fleetwood. to monitor progress and deterniine next steps. Covid 19 has meant this li been undertaken on ZooTn fullowin¥ sryidance frum the Chaiities Cumniission. Key management remuneratio Key manabTeinent iemuneration was £53.872 {2021-£48,5911 in total. REFERENCE AND ADMINISTIL4TIVE DETAILS Registered Companv number 11352453 (England and Wales) Regi5ter¢d Charity number 1181679 Registered office ph1[ Stieet Fleetwood Lancashire FY7 6BE Trustees Mrs Mduieen Linda Butn MT Andrew David Charles Mr John Joseph Fitzgerald Canon Michael John Hall (resigned 22.7.221 Canon Alfred Terence Hayes Mr Frank Iddon Heald Lord Thomab Mcnally Mrs Rebecca Jane Mllrdoch Mr Bryan 018¢ll Dr Mark Spencer Mr Richard James Barnes IndepeThdeMt Examiner Jones Hatti% Limitcd Chartered Accountants 17 St Petets Place Flcctwood Lancashire FY7 6EB Solicitors Addlestone Keane R¢gcnt Hous¢ 5 Queen Street Leeds LSI 2TW Report of the tru5tee5, incoTporatin¥F a 5trate¥Fic report, approved by order of the board of trustees, a5 the company dirc¢iors, on ..Sth F¢bruary 2023..... and sign¢d on th¢ board's bchalf by.. Mr% Rebecca Jane Murdoch- Trustee Fleelwood Trust Annual Review
Independent Examiner's Report IndepeDdent examiner's report to the trustees of Fleetwood Trust ('the Company,) I rcport to thc charity trus on my ¢xamination of th¢ accounts of th¢ Company for th¢ y¢ar ¢nd¢d 31 May 2022. Responsibilities b45is of report As the ciwity's trw8tcLs of the Company (and also its directors for the purposes of cornpany lawl you are responsible for the preparation of tl)e accounts in aLcordance with the requirements tsl. the Companies ALt 2(X)6 ('the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2(K)6 Act and are eligible for independent examination, I report in respect of Iny examination of your charity's accoui)ts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'l. In carying out iny exatnination I have followed the Dircctions giv¢n by th¢ Charity Commi%sion iindcr Scetion 145{51 Ib) of thc 2011 Act. Independent examiner s Statement I hai'e completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe.. ac¢ounting records were not kept in reqpect of the Company as required by Section 386 of the 2006 A¢t,' or Ihe accounts do noi accord with ihose records; or the accounts do not coinply with tlie accounting requirements of Section 396 of the 2(K)6 Act other than any rcquircmcnt that thc accounts givc a truc and fair vicw which ]% not a mattcr con%idcrcd as part of an indcpcndcnt examination: or the accounts have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by charitie% (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)). I hai'e no concern5 and have cojne across no other matters in connection with the exajnillation to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr M Wiglcy Msc ACA ATII lones Hatris Limited Chartered Accountallts 17 St Peters Place Fleetwovd Lancashire FY7 6EB Date.. ..8th FebTuary 2023............... Fleetwood Trust Annual Review
Statement of Financial Aclivilies 2022 Totsl funds 2021 Total nds Unrestricted fulld Resthcted funds Notes INCOME AND ENDOWMENTS FROM Donations and lcgacics 73,528 2R,310 101,83R 69,916 Investment incoine 85,909 85,909 76,700 Total 159.437 28.310 187,747 146,616 EXPENDITURE ON Charitable activities 89,214 16,728 105,942 91,738 Other 5,487 5,487 4,665 Total 94.701 16.728 111,429 96,403 NET INCOME 64,736 11,582 76,318 50,213 RECONCILIATION OF FUNDS Total funds brought fonvard ,221,615 343,418 1,565.033 1,514,820 TOTAL FUNDS CARRIED FORWARD 1.286.351 355.000 1,641.351 1,565.033 The note5 form part of these financial statements Fleelwood Trust Annual Review
Balance Sheet 2022 Total funds 2021 Total fund5 Unrestricted lui)d Restricted funds Notes FIXED ASSETS Tangible assets 1,399,388 345.0(K) 1,744,388 ,657,611 CURRENT ASSETS Debtors Cash at bank 20,598 38,842 20.598 48,842 10,000 105,589 59,440 10,000 69,440 105,589 CREDITORS Arnounts fallit]g due within one year (18,057) (18.057} 127,006) NET CURRENT ASSETS 41,383 10,000 51,383 78,583 TOTAL ASSETS LESS CURRENT LIABILITIES 1,440.771 355.0(M) 1.795,771 1,736,194 CREDITORS ATnounts fallinbF due after more than one year (154.420) (154,420} NET ASSETS 1,286,351 355.000 1,641,351 1,565,033 FUNDS Unrestricted funds Restricted fvnds 1,286,351 355,000 1,221,615 343,418 TOTAL FUND8 1,641,351 1,565,033 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022. The Tnembers have not requiTed the company to obtain an audit of its financial ststements for the year ellded 31 May 2022 in accordance with Section 476 of the Companies Act 2006. The tnjstees acknowledge their responsibilitie5 for ensuring that the charitable company keeps accounting records that Comply with Sections 386 and 387 of the Companies ALt 2006 and preparing financial 5tatement5 which gFive a true and fair view of the State of affair5 of the charitable coinpany a5 at th¢ ¢nd of caeh fjnancial y¢ar and of its surplus or dcficit for cach finaneial y¢ar in aceordanec with thc requirements of Sections 394 and 395 and which otherwise comply wilh ihe requirements of the Companies Act 2006 TelatlllbF to financial 5taternents, so far as applicable to the charitable cornpany. (b) The note5 form part of these financial statements Fleetwood Trust Annual Review
Balance Sheet Conlinued Thest linancial stateinents h(Ive been prepared in accordance with the piovi5ions applicable to charitable Companies subject to the small companie5 regiine. The financial statements were approved by the Board of Trustees and authorised for issue ..8th Febn]ary2023.......... and were signed on its behalf by.. on Mrs Rebecca Jane Murdoch - Trustee yÉurH Hu ur WEcaN HELP The note.% form part of these financial statements Fleelwood Trust Annual Review
Notes to the Financial Statements ACCOUNTING POLI IES Basis of preparlnR the finaneial statements The financial statcments of the chaTjtable company, which is a public benefit entity linder FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Statement of Recoinniended PraLtiLe applicable to chaiitieb piep(Iiing their acLourits in accordance with the FinanLial eponing Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019),, Financial Reporting Stsndard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial stateinents have been prepared under the historiLal cost convention. Goin2 Concern Thcrc aTe no material uncertainties about the charity's ability to continlle as a Going Concern. Incume All incomc is rccogni.%cd in thc Statcmcnt of Financial Activitics oncc the charity ha8 cntitlcmcnt to thc funds, it is probable that the income will be received and ihe amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation coinmitting the charity to that expet]diture, it is probable that a transfer of economic benefits will be required in settlement and thc amount of th¢ ohligation can b¢ m¢asur¢d rcliably. Expcnditurc is a¢countcd for on an accrnals basis and has been classified under headings that aggregate all cost related to the caiegory. Where costs cannot be directly attTibuted to particular Iieadings they have been allocated to activities on a basis consistent with the use of rcsourccs. Tangible fixed a55et5 Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful Computcr cquipm¢nt 33Q/o on ¢ost Taxation The charity is exempt from Corporation tax on its charitable activities. Fund accouDting Unresiricied funds can be used in accordance with the charitable objectives at the discretion Lif the trustees. Restricted ndS can only be used foT particular restricted purposes within the object5 of the charity. Restrictions arise when specified by the dL)nor Lir when funds are raised for particular restricied purposes. Further explanation of the nare and purpose of each nd is inclllded in the notes to the financial statements. INVESTMENT INCOME 2022 2021 Rent5 ieceived Deposit account interest 85,903 76.700 85,909 76,700 Fleetwood Trust Annual Review
Notes to the Financial Statements Continued NET INCOMEI(EXPENDITURE) Net in¢omel{expenditurel is stated after ¢harging{¢reditingl'. 2022 2021 Independent examiner fees Depreciation- owned assets 1,195 592 1,135 592 TRUSTEES, REMUNEILITION AND BENEFITS There were no truslees, remuneralion or other benefits for the year ended 31 May 2022 nor for the year ended 31 May2021. Trustees. expenses There were no trustees, expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021. COMPAIi4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restrtcted lunds Total fund INCOME Af4D ENDOWMENTS FROM Doiiations and lesiacies 22,451 47,465 69,916 Investment income 76,700 76,700 Total 99,151 47,465 146,616 EXPENDITURE ON c.haritable activities 62,691 29,047 91,738 Other 4.665 4,665 Total 67,356 29,047 96,403 NET INCOME 31,795 18,418 50,213 RECONCILIATION OF FUNDS Total ndS brought forward 1,189.820 325,000 1,514,820 TOTAL FUNDS CARRIED FORWARD 1,221,615 343,418 1,565,033 Fleelwood Trust Annual Review
Notes to the Financial Statements Conlinued TANGIBLE FIXED ASSETS Freehold property Computer equipmcnt Totsls COST At l June 2021 Additions 1.656,409 87,369 1,794 1,658,203 87,369 At 31 May 2022 1,743,778 1,794 1,745,572 DEPRECIATION At l June 2021 Chaige fur yeur 592 592 592 592 At 31 May 2022 1,184 1,184 NET BOOK VALUE At 31 May 2022 1.743,778 610 1.744,388 At31 May2021 1,656,409 1,202 1,657,611 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 VAT Prepayments and accrued income 6,480 14,118 20,598 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Bank loans and ovcrdrafts l%cc notc 10) VAT 16,861 18,199 2.614 6,193 Acctua15 and defetred incorne 1,196 18,057 27,006 Fleetwood Trust Annual Review
Notes to the Financial Statements Continued CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 2021 Bank loans (see note 101 154,420 171,161 io. LOANS An analysis of the maturity of loans is given below". 2022 2021 Amounts falling due within one year on demand.. Bank loans 16,861 18,199 Amounts fallings between one and two years.. Bank loans 154,420 171,161 MOVEMENT IN FUNDS Net movement in funds At 3115122 At 116121 Unrestricted fund5 General fund 1,221,615 64,736 1,286,351 Restricted funds Ground floor building fund Coinmunity kitchen fund Changillg places Wages fund 300,000 25,000 10,000 8,418 20,000 320,0(X) 25,000 10,000 18,418) 343,418 11,582 355,0(H) TOTAL FUNDS 1.565,033 76.318 1,641,351 Net movement in fund5, included in the above are a5 follows.. Incoming resources Resources expended Movement in lunds Unrestricted funds Gfflieral fund 159.437 194.701) 64.736 Restricted funds Ground flooi building nd Wagc% fund 20,000 8,310 20.000 18,418) (16,728) 28.310 116.728) 11.582 TOTAL FUNDS 187.747 (111.429) 76,318 Fleelwood Trust Annual Review
Notes to the Financial Statements Continued ii. MOVEMENT IN contiThued Comparatives for movement in funds Net movemtnt in funds At 3115121 At 116120 Unrestricted funds Gcncral nd 1,189,820 31,795 1,221,615 R¥5tricted funds Ground floor building nd Communily kiichen fund ChanbFITlb place5 fund Wagc% fund 300,000 25,000 300,0(K) 25,000 10.000 8,418 10,000 8,418 325.0(K) 18.418 343.418 TOTAL FUNDS 1,514,820 50,213 1,565.033 Comparative net movement in funds. included in the above are as follows.. Incoming resources Rc%ourcc expended Movcmcnt in funds Unrestricted funds General fund 99,151 167,356) 31,795 Restricted funds Changing plaLes lund Wages fund 10,o(M) 37,465 10,000 8,418 (29,047) 47,465 129.047) 18,418 TOTAL FUNDS 146,616 (96,403) 50,213 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 3115122 At 116120 Unres¢ri¢¢ed funds General fund 1.189,820 96.531 1,286,351 Restricted funds Ground floor building fund Community kitchcn fund Changing places fund 300,0(K) 25,000 20,000 320.0(X) 25,000 10,000 10,000 325,000 30,000 355,0( TOTAL FUNDS 1,514,820 126,531 1,641,351 14 Fleetwood Trust Annual Review
Notes to the Financial Statements Continued MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 rnonth5 combined net movernent in funds. included in the above are as follows.. Incomin resources Resources expended Movernent in fvnds Unrestricted funds Gcncral fund 258,588 (162,0571 96,531 Re5trieted funds Ground floor building fund Changing places fund Wage5 fund 20,000 10.000 45,775 20,000 10.000 145,7751 75.775 145.7751 30.000 TOTAL FUNDS 334,363 (207.8321 126,531 All of the charities funds were created when the charity received grants or donations towards the specific purpose of these projects. 12. RELATED PARTY DISCLOSURES There were no related party trdllsactions during the year ending 31 May 2022. Regenda MILI Fleelwood Trust Annual Review
Detailed Statement of Financial Activilies 2022 2021 INCOME AND ENDOW'MENTS Donatlons and legacies Donations Cirants 34.628 67,210 22.451 47,465 101.838 69.916 Investment income Rent5 lecti.ed Dcposit account intcrcst 85.903 76.7tN) 85.909 76.700 Total Ineo]nlng resourees 187.747 146.616 EXPENDITURE Other Bank loan interest 5,487 4,665 Support costs ManagemeDt Wages Insur£te Light, heat and power Telephone Advertising Sundries Repairs & maintenance Travel Fundillg Training & r¢cruitm¢nt Software & computer Computer equipment 69,785 8,081 11,441 2,475 609 743 2,323 1,224 800 633 617 592 55,678 9,353 6,600 1,048 1,085 1,087 592 99,323 75,443 Finance Bank charges 102 3,479 Governance costs Auditvrs, rtmuneratitsn loi non audit work Legal and professional fees 1.195 5,322 1,135 11,681 6,517 12.816 Total resources expended 111,429 96,403 Net income 76,318 50,213 Fleetwood Trust Annual Review