REGISTERED COMPANY NUMBER: CE016375 (England and Wales)
REGISTERED CHARITY NUMBER: 1181832
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
FOR
THE OLD NEEDLE WORKS FOUNDATION
Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST
THE OLD NEEDLE WORKS FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31st March 2021
|
|
Page |
|
Chairman's Report |
|
1 |
|
Report of the Trustees |
2 |
to |
4 |
Independent Examiner's Report |
|
5 |
|
Statement of Financial Activities |
|
6 |
|
Balance Sheet |
7 |
to |
8 |
Notes to the Financial Statements |
9 |
to |
15 |
Detailed Statement of Financial Activities |
16 |
to |
17 |
for the Year Ended 31st March 2021
THE OLD NEEDLE WORKS FOUNDATION
CHAIRMAN'S REPORT
Momentum is the word that comes to mind when attempting to express the development of the past year.
Iamimmenselyproudandatthesametimeamazedattheachievementsbroughtaboutbyoursmall,keybandofstaff and
volunteers,withoutwhomtheFoundationwouldnotbeabletoofferthenumberandvarietyofconsultations currently
performed.
Thatsaid,we arenotcontenttostandstill.We areembarkingonaninductionprogrammetointroduceprospective candidates
to ourworkandfromthere,to begintrainingas Wellbeingcoachesforthe future.In return,the candidateswilldonate working
hours to the Foundation to benefit our vulnerable clients.
And the momentum continues…The new charityshop helps those on low income by providingclothingand goods and affordable
prices,andthenewplant-basedcaféoffersameetingplaceandamenuwhichisdifficulttoobtainformanywithvegan and
gluten free foods and drinks.
As for 2022?One thingwe are notshortof is ideas.I say againthatourmomentumdrivesus forward.Thanksto some excellent
bidwritingwehavegrantstakingcertainprojectsforwardforseveralyearsandourzesttocontinuethemomentumis already
well into next year with work underway to financially underpin an utterly bright future for The Old Needlework Foundation.
Page 1
THE OLD NEEDLE WORKS FOUNDATION
REPORT OF THE TRUSTEES
for the Year Ended 31st March 2021
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatementsof the charityforthe yearended31stMarch2021.The trusteeshaveadoptedthe provisionsof Accounting
andReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Old NeedleWorksis a communitylearningandsupporthubprovingskillscoursesandgroupsto helplocalpeoplewith their
wellbeingandmentalhealth.Wesupportpeopletomakelastingpositivechangestoimprovelifequalityandchances. Our
premises are shared and act as an incubator for other charities and social enterprise.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charityis controlledby its governingdocument,a deed of trust,andconstitutesa limitedcompany,limitedby guarantee, as
defined by the Companies Act 2006.
The Trusteesare appointedat the AGM, aftergoingthroughan inductionandtrainingprocess.Theirappointmentis recorded in
theminutesofthemeetingandnosignaturesofacceptancearerequired.TheTrusteeshavethepowertoco-opt other
members.
Page 2
REPORT OF THE TRUSTEES
for the Year Ended 31st March 2021
THE OLD NEEDLE WORKS FOUNDATION
STRUCTURE, GOVERNANCE AND MANAGEMENT Treasurers comments
Ourrobustriskmanagementproceduresandtheexceptionalworkofthemanagementteamhasmitigatedtheimpact on
financialperformanceCovid-19,whilestillunderlockdownmeasuresourteamhassuccessfullynegotiatingwiththe landlord,
tenantsandfundingbodiesreducedthe impactof the outbreakandenabledus to endthe yearin a soundfinancialposition. As
detailed in the formal accounts.
Our firm financialpositionand space availableat the Old NeedleworksFoundationwill allow us to expand our services in the next
financial year, maintaining our strategy of becoming a family centre.
Governance
TheOldNeedleworksFoundationhasnowestablishedsinceJune2019.Duringthistimethetrusteeshaveestablished the
protocolsneededto fulfiltheiroverseeingduties.This includesreviewinga financialreportat the monthlytrusteesmeeting that
includes:
-
The monthly cash and financial position
-
Forward forecast of both profit and loss and cash position
-
Financial risks and opportunities
-
Grant project specific constraints
ToensurecostsandvalueisfullycapturedwehaveprocuredandusetheXerofinancialsoftwarepackage.Xerocontains a
dashboardshowing,ataglance,unpaidinvoices,YTDprofitandcashincashout.Xeroalsocontainsanextensivesuite of
reportingtoolsallowinginterrogationofeveryelementoffinancialperformance.TheXerosoftwareisbeingtailoredtoallow a
project by project (grant by grant) cost capture to ease governance processes further.
Ourrobustfinancialgovernanceproceduresincludeareviewofprofitandlossandcashpositionsatdifferentscenariosusing a
cash flow forecastspreadsheetso the trusteescan understandthe potentialfinancialimpactof majordecisions,or the impact of
significant risks or opportunities.
We have also changed our accountant to a local company who is significantly more supportive.
We have reduced our reserves policy from three to two months operating costs held in cash at bank.
Commercial risks and opportunities and mitigations
Risks,opportunities,andmitigationsarediscussedonanindividualbasisat thetrusteesmeetingheldonthefirstFridayof each
calendarmonth.Inexceptionalcircumstancesadditionalmeetingcanbeheldtoagreeanoperationalapproachand identify
potential risks and mitigation measure.
Significant Risks & Opportunities |
Mitigation measures |
Short term loss of rental income from tenants |
Agree reduced rental with our landlord |
Loss of income from lost paid for services |
Some services provided via ICT solution |
Loss of income from services not delivered where grant |
|
monies already paid |
Agree relaxation of spend requirements from donor bodies |
Long term loss of income from tenants |
Active approach to advertising |
Page 3
THE OLD NEEDLE WORKS FOUNDATION
REPORT OF THE TRUSTEES for the Year Ended 31st March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Loss of existing tenants enables new tenants to be secured
Increased income from new tenantson more favourable terms
The increased space available allows us to deliver a wider
range of services, becoming more resilient and less reliant on
Increased income from new or increased scope of services rental income
An increasing cash surplus will allow us to deliver,
non-funded services to support a limited amount of
individuals that would not otherwise have access to mental
Cash surplus health support
The availability of space in the building allows the
Availability of Space opportunity to use the space for fundraising activities
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE016375 (England and Wales)
Registered Charity number
1181832
Registered office
The Old Needlworks
Cedar House
Britten Street
Redditch
B97 6HD
Trustees
J R Williamson Chairman
G Scragg Treasurer
N Ordish
L Lostitch (appointed 26/6/2020)
P Salnicki (appointed 3/4/2020)
Independent Examiner
Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...............................................................................
J R Williamson - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE OLD NEEDLE WORKS FOUNDATION
Independent examiner's report to the trustees of The Old Needle Works Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2021.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthattheaccountsof theCompanyarenotrequiredtobe auditedunderPart16 of the2006Actand are
eligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedout under
section145 of the CharitiesAct 2011 ('the 2011 Act').In carryingout my examinationI have followedthe Directionsgivenby the
Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbe a memberof a listedbody.I canconfirmthatI am
qualifiedtoundertaketheexaminationbecauseIamaregisteredmemberofCharteredAccountantwhichisoneofthe listed
bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwiththe examination
giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshould be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
Alistair Hayward-Wright
Chartered Accountant
Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST
Date: .............................................
Page 5
THE OLD NEEDLE WORKS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2021
Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
102,039
106,780
Charitable activities
Introduce assets from Britten Street Hub Community
-
-
Other trading activities
2
10
-
Investment income
3
51,932
-
Total
153,981
106,780
EXPENDITURE ON
Raising funds
26,819
54,756
Charitable activities
Support and management costs
21,423
14,775
Charity expenditure
38,809
19,899
Other
10,468
923
Total
97,519
90,353
NET INCOME
56,462
16,427
Transfers between funds
10
(6,080)
6,080
Net movement in funds
50,382
22,507
RECONCILIATION OF FUNDS
Total funds brought forward
11,052
8,546
TOTAL FUNDS CARRIED FORWARD
61,434
31,053 |
2021
Total
funds
£
208,819
-
10
51,932
260,761
81,575
36,198
58,708
11,391
187,872
72,889
-
72,889
19,598
92,487 |
2020
Total
funds
£
86,079
10,990
-
69,571 |
|
|
166,640
34,383
57,073
45,368
10,218 |
|
|
147,042 |
|
|
19,598
- |
|
|
19,598
- |
|
|
19,598 |
The notes form part of these financial statements
Page 6
THE OLD NEEDLE WORKS FOUNDATION
BALANCE SHEET 31st March 2021
Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
7
2,768
-
CURRENT ASSETS
Debtors
8
-
5,451
Cash at bank
72,576
25,639
72,576
31,090
CREDITORS
Amounts falling due within one year
9
(13,910)
(37)
NET CURRENT ASSETS
58,666
31,053
TOTAL ASSETS LESS CURRENT LIABILITIES
61,434
31,053
NET ASSETS
61,434
31,053
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2021
Total
funds
£
2,768
5,451
98,215
103,666
(13,947)
89,719
92,487
92,487
61,434
31,053
92,487 |
2020
Total
funds
£
3,246
8,705
23,871 |
|
|
32,576
(16,224) |
|
|
16,352 |
|
|
19,598 |
|
|
19,598 |
|
|
11,052
8,546 |
|
|
19,598 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
31st March 2021.
The members have not requiredthe companyto obtainan audit of its financialstatementsfor the year ended 31st March 2021 in
accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
THE OLD NEEDLE WORKS FOUNDATION
BALANCE SHEET - continued
31st March 2021
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompaniessubject to
the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon............................................. and
were signed on its behalf by:
.............................................
J R Williamson - Trustee
.............................................
G Scragg - Trustee
The notes form part of these financial statements
Page 8
THE OLD NEEDLE WORKS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsof thecharitablecompany,whichis a publicbenefitentityunderFRS 102,havebeen prepared
inaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandard applicable
intheUKandRepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'The Financial
ReportingStandardapplicableintheUK andRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharity to
that expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlementand the amountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthat aggregateall cost relatedto the category.Where costs cannotbe directlyattributedto particular headings
they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings- 20% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.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.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementof FinancialActivitiesona straightlinebasisover the
period of the lease.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayabletothe charitable
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 9
THE OLD NEEDLE WORKS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2021
2. OTHER TRADING ACTIVITIES
Shop income
INVESTMENT INCOME
Rents received
Deposit account interest |
2021
£
10
2021
£
51,921
11
51,932 |
2020
£
-
2020
£
69,563
8 |
|
|
69,571 |
3. INVESTMENT INCOME
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2021 |
2020 |
|
£ |
£ |
Depreciation - owned assets |
1,215 |
2,318 |
Other operating leases |
47,263 |
45,376 |
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2021norfortheyear ended
31st March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2021 nor for the year ended 31st March 2020.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
-
86,079
Charitable activities
Introduce assets from Britten Street Hub
Community
10,990
-
Investment income
69,571
-
Total
80,561
86,079 |
Total
funds
£
86,079
10,990
69,571 |
|
166,640 |
continued...
Page 10
THE OLD NEEDLE WORKS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2021
6. |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|
|
|
|
Unrestricted |
Restricted |
Total |
|
|
fund |
funds |
funds |
|
|
£ |
£ |
£ |
|
EXPENDITURE ON |
|
|
|
|
Raising funds |
46 |
34,337 |
34,383 |
|
Charitable activities |
|
|
|
|
Support and management costs |
31,831 |
25,242 |
57,073 |
|
Charity expenditure |
31,445 |
13,923 |
45,368 |
|
Other |
6,187 |
4,031 |
10,218 |
|
Total |
69,509 |
77,533 |
147,042 |
|
NET INCOME |
11,052 |
8,546 |
19,598 |
|
TOTAL FUNDS CARRIED FORWARD |
11,052 |
8,546 |
19,598 |
7. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
|
Fixtures |
|
|
|
|
and |
|
|
|
|
fittings |
|
|
|
|
£ |
|
COST |
|
|
|
|
At 1st April 2020 |
|
|
5,564 |
|
Additions |
|
|
737 |
|
At 31st March 2021 |
|
|
6,301 |
|
DEPRECIATION |
|
|
|
|
At 1st April 2020 |
|
|
2,318 |
|
Charge for year |
|
|
1,215 |
|
At 31st March 2021 |
|
|
3,533 |
|
NET BOOK VALUE |
|
|
|
|
At 31st March 2021 |
|
|
2,768 |
|
At 31st March 2020 |
|
|
3,246 |
continued...
Page 11
THE OLD NEEDLE WORKS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2021
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
£
£
Trade debtors
4,192
7,243
Prepayments
1,259
1,462
5,451
8,705
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
£
£
Trade creditors
12,114
7,384
Social security and other taxes
997
500
Other creditors
36
5,000
Pension
-
109
Accruals and deferred income
800
3,231
13,947
16,224
10.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At
At 1/4/20
in funds
funds
31/3/21
£
£
£
£
Unrestricted funds
General fund
11,052
56,462
(6,080)
61,434
Restricted funds
Children in Need
-
2,186
-
2,186
Reaching Communities
8,546
10,091
-
18,637
People Health Trust
-
(4,853)
4,853
-
Awards For All
-
(1,227)
1,227
-
Council Discetional Grant
-
4,559
-
4,559
Severn Trent
-
5,671
-
5,671
8,546
16,427
6,080
31,053
TOTAL FUNDS
19,598
72,889
-
92,487 |
|
2020
£
7,243
1,462 |
|
|
8,705 |
|
|
2020
£
7,384
500
5,000
109
3,231 |
|
16,224 |
|
|
31,053 |
|
|
92,487 |
|
continued...
Page 12
THE OLD NEEDLE WORKS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2021
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Children in Need
Reaching Communities
People Health Trust
Awards For All
Council Discetional Grant
Severn Trent
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Reaching Communities
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
153,981
(97,519)
56,462
31,405
(29,219)
2,186
51,001
(40,910)
10,091
-
(4,853)
(4,853)
-
(1,227)
(1,227)
8,030
(3,471)
4,559
16,344
(10,673)
5,671
106,780
(90,353)
16,427
260,761
(187,872)
72,889
Net
movement
At
in funds
31/3/20
£
£
11,052
11,052
8,546
8,546
19,598
19,598 |
|
|
continued...
Page 13
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2021
THE OLD NEEDLE WORKS FOUNDATION
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Children in Need
Reaching Communities
People Health Trust
Awards For All
Council Discetional Grant
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
80,561
(69,509)
11,052
16,709
(16,709)
-
45,500
(36,954)
8,546
11,910
(11,910)
-
9,960
(9,960)
-
2,000
(2,000)
-
86,079
(77,533)
8,546
166,640
(147,042)
19,598 |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
80,561
(69,509)
11,052
16,709
(16,709)
-
45,500
(36,954)
8,546
11,910
(11,910)
-
9,960
(9,960)
-
2,000
(2,000)
-
86,079
(77,533)
8,546
166,640
(147,042)
19,598 |
|
|
8,546 |
|
|
19,598 |
A current year 12 months and prior year 12 months combined position is as follows:
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 1/4/19 |
in funds |
funds |
31/3/21 |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
- |
67,514 |
(6,080) |
61,434 |
Restricted funds |
|
|
|
|
Children in Need |
- |
2,186 |
- |
2,186 |
Reaching Communities |
- |
18,637 |
- |
18,637 |
People Health Trust |
- |
(4,853) |
4,853 |
- |
Awards For All |
- |
(1,227) |
1,227 |
- |
Council Discetional Grant |
- |
4,559 |
- |
4,559 |
Severn Trent |
- |
5,671 |
- |
5,671 |
|
- |
24,973 |
6,080 |
31,053 |
TOTAL FUNDS |
- |
92,487 |
- |
92,487 |
continued...
Page 14
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2021
THE OLD NEEDLE WORKS FOUNDATION
10. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheaboveare as
follows:
Unrestricted funds
General fund
Restricted funds
Children in Need
Reaching Communities
People Health Trust
Awards For All
Council Discetional Grant
Severn Trent
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
234,542
(167,028)
67,514
48,114
(45,928)
2,186
96,501
(77,864)
18,637
11,910
(16,763)
(4,853)
9,960
(11,187)
(1,227)
10,030
(5,471)
4,559
16,344
(10,673)
5,671
192,859
(167,886)
24,973
427,401
(334,914)
92,487 |
|
|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2021.
Page 15
THE OLD NEEDLE WORKS FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2021
INCOME AND ENDOWMENTS
Donations and legacies
Grants
Other trading activities
Shop income
Investment income
Rents received
Deposit account interest
Charitable activities
Exceptional items
Total incoming resources
EXPENDITURE
Raising donations and legacies
Rates and water
Other trading activities
Purchases
Bad debts
Support costs
Management
Wages
Pensions
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Carried forward |
2021
£
208,819
10
51,921
11
51,932
-
260,761
3
81,572
-
81,572
19,981
612
47,263
1,324
3,737
8,524
620
2,024
84,085 |
2020
£
86,079
-
69,563
8
69,571
10,990
166,640
(2)
34,337
48
34,385
20,947
455
45,376
1,713
2,152
8,575
604
80
79,902 |
|
|
|
This page does not form part of the statutory financial statements
Page 16
THE OLD NEEDLE WORKS FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2021
Management
Brought forward
Advertising
Professional fees
Exceptional items
Finance
Sundries
Depreciation of tangible fixed assets
Information technology
Repairs and renewals
Governance costs
Accountancy and legal fees
Total resources expended
Net income |
2021
£
84,085
2,666
8,727
-
95,478
190
1,215
1,405
7,615
1,799
187,872
72,889 |
2020
£
79,902
400
17,276
489 |
|
|
98,067
3,074
2,318 |
|
|
5,392
6,380
2,820 |
|
|
147,042 |
|
|
19,598 |
This page does not form part of the statutory financial statements
Page 17