```
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
```