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2021-12-31-accounts

Somerdale Pavilion Trust (A Company Limited by Guarantee)

Report of the Trustees and financial statements

Company registration number 11730938 Registered charity number 1182426

Year ended 31 December 2021

Somerdale Pavilion Trust

Contents

Trustees and advisors 1
Report of the Trustees 2
Independent auditors’ report to the Trustees of 7
Somerdale Pavilion Trust
Statement of financial activities 11
Balance sheet 12
Notes 13

Somerdale Pavilion Trust

Trustees and advisors

Trustees H L M Bothamley
L A Freed
P J Rilett
T S Ross
R T Wynn-Jones
Company number 11730938
Registered charity number 1182426
Registered office C/O St Monica Trust
Cote Lane
Bristol
BS9 3UN
Business address Tiberius Road
Keynsham
Bristol
BS31 2FF
Auditors KPMG LLP
66 Queen Square
Bristol
BS1 4BE
Banker Natwest Bank
32 Corn Street
Bristol
BS99 7UG

1

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2021

The Trustees present their report along with the financial statements of the charity for the year ended 31 December 2021.

Governing document

Somerdale Pavilion Trust is a company limited by guarantee, incorporated on 17 December 2018 and registered as a charity on 17 December 2018. The charity was established under a Memorandum of Association which established the objects and powers of the charity and is governed under its Articles of Association. In the event of the charity being wound up each member promises to pay up to £1 towards the costs of dissolution and the liabilities incurred by the charity while the contributor was a member. The charity registration number, company number, principal office and registered office are noted on page one.

Directors and Trustees

St Monica Trustee Company Limited (a company limited by guarantee registered number 9357207) is the sole member of Somerdale Pavilion Trust.

The Directors of the charity are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The Trustees who served throughout the year are noted on page one. The Trustees are appointed and serve in accordance with the Articles of Association. The Trustees meet four times per year or more if required. The Trustees receive no remuneration from the charity.

The Board is composed of no fewer than three Trustees and is not subject to any maximum, with up to five Trustees appointed by the member. The Trustees may appoint further persons to be Trustees. The Trustees appoint a Chairperson amongst themselves prior to a Trustee meeting taking place. Subgroups and advisory boards can also be appointed to provide other resources of expertise.

Each Trustee is appointed for a three-year term. At the end of each term a Trustee shall retire from office but may be reappointed to serve no more than three consecutive terms of office.

The charity’s legal advisors have worked with the Trustees to compile a Trustees’ Policies document, as well as a Governance Timetable. They also provide legal and regulatory updates as required, to ensure that the Trustees' knowledge remains current.

Statement of Trustees’ responsibilities in respect of the Report of the Trustees and the financial statements

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure for that period. In preparing those financial statements, the Trustees are required to:

2

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2021

Statement of Trustees’ responsibilities in respect of the Report of the Trustees and the financial statements continued

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enables them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

Objects and activities of the charity

The objects of the charity are, for the public benefit:

  1. the provision and maintenance of a pavilion, playing fields and other facilities for the use of the inhabitants of Keynsham and the surrounding areas without distinction of political, religious or other opinions, including use for:

(a) meetings, lectures, classes, sporting activities; and

(b) other forms of recreation and leisure time occupation, with the object of improving the conditions of life for the inhabitants.

  1. the relief of those individuals (and if appropriate their spouses) who are in need by reason of age, disability or ill-health by the provision of:

(a) accommodation and associated facilities; and/or

(b) other services or assistance.

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 are in place to mitigate their exposure to the major risks.

3

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2021

Public benefit

The Trustees are aware of the Charity Commission guidance on public benefit and have paid due regard to this guidance when deciding on what activities the charity should undertake.

In 2021 the Trust was able to support 1,609 beneficiaries in the following categories:

(a) 506 gym members

(c) 1,028 members of 20 sports and activities clubs

Membership of the sports and activities clubs is shown below:

Membership of Clubs Members
Baseball 96
Cadbury Pensioners 71
Golf 18
Cycle cross 30
Joggers 10
Netball 12
Netball Juniors 46
Bowls 80
Somerdale CommunityShed 15
Stepout and Move On 15
Tennis 34
Tennis Juniors 59
Cricket 70
FryJunior Football Club 200
FryFootball Club 92
Red Falcons Football Club 100
Cosmos Football Club 25
Fishponds Football Club 25
Mencap 30
Total users 1,028

Achievements and performance

The Trust has built a strong relationship with all existing sports and social clubs associated with the Pavilion with the objective of providing encouraging health and wellbeing of the local community through physical and social activities.

4

Somerdale Pavilion Trust

Report of the Trustees

For the year ended 31 December 2021

Achievement and performance continued

The Trust continued to provide and support the Fry Pensioners, Somerdale Shed and Fry Bowls, Tennis and Golf sections. The table above highlights the full extent of the physical and social activities the Trust provided and supported.

The Trust continues to manage and operate the gyms and spa at the Somerdale Pavilion and the Chocolate Quarter, supporting around 1028 members and over 200 Pay as you go.

As the Pandemic restrictions started to ease, the Trust re-engaged with the clubs and the community by encouraging participation in events and social gatherings. This proved very challenging as people were understandably nervous and somewhat anxious of the thought of socialising again in larger numbers. This was a very slow process but eventually we witnessed the community supporting us via the social media platforms and we ended the year with a positive mindset for Q1 of 2022.

The Trust in common with much of the Leisure sector has experienced a challenging year. However, Somerdale Pavilion Trust achieved a positive financial result.

Financial review

The performance of the Trust during the resulting financial result to 31 December 2021 was consistent with the expectations and plans of the Trustees that were developed in response to the COVID-19 pandemic. The financial surplus for the period to 31 December 2021 was £91k which was generated from total income of £696k and charitable expenditure of £605k. Separately, the Trust has retained a balance of £27k from a grant provided by the landlord to support the service.

Future plans

Following the easing of pandemic restrictions and C Block employees returning to the office, the Trust plan to fully open the bar and catering by employing a full time cook. We have an opportunity to cater for local businesses as well as the community. As the footfall within the Pavilion increases, we intend to maximise our potential and drive the activities forward throughout 2022.

All of the Trust’s sport clubs including, baseball, bowls, cricket, football, and tennis have expressed their commitment to the Pavilion and will continue to support us.

Unfortunately, golf membership has dropped off quite significantly. We currently have 18 members and, despite various marketing campaigns, we have been unable to attract new members. The Trust plans to use the opportunity to reconfigure the golf course to cater for additional football pitches and reduce ground maintenance costs whilst benefiting from the revenue that will be generated from the new pitches.

In the long term, the Trust remains committed to working with new and existing groups and individuals of all ages to encourage the community to make better use of the club and the facilities it has to offer.

Reserves policy

The Trusts’ policy is to maintain unrestricted reserves equivalent to one month’s operating expenditure, which at this stage of the SPT’s operation would be £75,000. As at 31 December 2021 the value of unrestricted reserves was £172k.

5

Somerdale Pavilion Trust

Report of the Trustees For the year ended 31 December 2021

Auditors

The board of trustees appointed KPMG LLP as auditors at their meeting held on 1 October 2019.

This report has been prepared in accordance with current statutory requirements, the memorandum of association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Approved by the Trustees on 22 June 2022 and signed on their behalf by:

Mr Timothy Ross Trustee Somerdale Pavilion Trust

6

Independent auditors’ report to the Trustees of Somerdale Pavilion Trust

Opinion

We have audited the financial statements of Somerdale Pavilion Trust (“the charitable company”) for the year ended 31 December 2021 which comprise the statement of financial activities, balance sheet and related notes, including the accounting policies on pages 13 to 15.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the charitable company in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

Going concern

The trustees have prepared the financial statements on the going concern basis as they do not intend to liquidate the charitable company or to cease its operations, and as they have concluded that the charitable company’s financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements (“the going concern period”).

In our evaluation of the trustees’ conclusions, we considered the inherent risks to the charitable company’s business model and analysed how those risks might affect the charitable company’s financial resources or ability to continue operations over the going concern period.

Our conclusions based on this work:

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the charitable company will continue in operation.

Fraud and breaches of laws and regulations – ability to detect

Identifying and responding to risks of material misstatement due to fraud

7

Independent auditors’ report to the Trustees of Somerdale Pavilion Trust

To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, and taking into account our overall knowledge of the control environment we perform procedures to address the risk of management override of controls and the risk of fraudulent revenue recognition, in particular the risk that management may be in a position to make inappropriate accounting entries.

We did not identify any additional fraud risks.

In determining the audit procedures we took into account the results of our evaluation and testing of the operating effectiveness of some of the fraud risk management controls.

We also performed procedures including:

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and discussed with the trustees other management the policies and procedures regarding compliance with laws and regulations.

As the charitable company is regulated, our assessment of risks involved gaining an understanding of the control environment including the entity’s procedures for complying with regulatory requirements. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including charities legislation) and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: certain aspects of company and charity legislation recognising the financial and regulated nature of the charitable company’s activities and its legal form. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

8

Independent auditors’ report to the Trustees of Somerdale Pavilion Trust

Context of the ability of the audit to detect fraud or breaches of law or regulation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

Other information

The trustees are responsible for the other information, which comprises Report of the Trustees. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work:

Matters on which we are required to report by exception

Under the Companies Act 2006 we are required to report to you if, in our opinion:

We have nothing to report in these respects.

Trustees’ responsibilities

As explained more fully in their statement set out on pages 2 and 3, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view; such

9

Independent auditors’ report to the Trustees of Somerdale Pavilion Trust

internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue our opinion in an auditor’s report. Reasonable assurance is a high level of assurance, but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/auditorsresponsibilities.

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………………………………..…………

Jonathan Brown

for and on behalf of KPMG LLP, Statutory Auditor

Chartered Accountants

KPMG LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 66 Queen Square Bristol BS1 4BE

Date: ………25 July 2022……………………

10

Somerdale Pavilion Trust

Statement of financial activities (including income and expenditure account) For the year ended 31 December 2021

Notes
Income
Grant income
Charitable activities
Other trading activities
Total income
Expenditure
Charitable activities
2
Other
Total expenditure
Net income/(expenditure)
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
81,272
314,283
300,020
695,575
(572,408)
(32,281)
(604,689)
90,886
90,886
80,762
171,648		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Total funds
year ended
31
December
2021
£
81,272
314,283
300,020
695,575
(572,408)
(32,281)
(604,689)
90,886
90,886
80,762
171,648		 Total funds
period
ended 31
December
2020
£
98,048
289,994
262,588
650,630
(572,104)
(17,456)
(589,560)
61,070
61,070
19,692
80,762

Incoming resources and resulting net movement in funds arise from continuing operations. The charity has no recognised gains or losses other than those shown above.

11

Somerdale Pavilion Trust

Balance sheet As at 31 December 2021

Notes
Fixed assets:
Equipment
6
Current assets:
Stock
7
Debtors
8
Cash at bank and in hand
Creditors: due within one year
9
Net current assets
Net assets
Total restricted funds
Total unrestricted funds
Total funds
10, 11		 3,856
116,621
180,359		 2021
£
6,929
6,929
164,719
171,648
-
171,648
171,648		 358
59,163
175,228		 2020
£
7,681
7,681
73,081
300,836 234,749
(136,117) (161,668)
80,762
-
80,762
80,762

These financial statements were approved by the Board on 22 June 2022 and were signed on its behalf by:

Mr Timothy Ross Trustee Somerdale Pavilion Trust

12

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

1 Accounting policies

1.1 Company information

Somerdale Pavilion Trust is a private charitable company limited by guarantee incorporated in England and Wales, company number 11730938. The registered office is C/O St Monica Trust, Cote Lane, Bristol, BS9 3UN.

1.2 Basis of preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The charity constitutes a public benefit entity as defined under FRS 102.

Under Section 7.1B of FRS 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds of its size.

These financial statements have been prepared under the under the historical cost convention. The principal accounting policies adopted are set out below.

The Trustees have prepared the financial statements on a going concern basis which they consider is appropriate for the following reasons. The business model of the charity is such that its charitable activities are limited to those which it has sufficient funds to support from the excess of funding received over the costs of administering the charity. The charity therefore has no specific commitments and no committed costs beyond its fixed costs of operation which are detailed in the Consolidated Statement of Financial Activities and notes 2 to 4.

The Trustees have reviewed cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that the charity will have sufficient funds to meet its liabilities as they fall due for that period. The Trustees have also considered the continued implications of COVID-19 on those cash flow forecasts and consider that as a result of the charity’s operating model explained above the charity has sufficient cash reserves to pay all committed costs. As a result, the Trustees consider it appropriate for the financial statements to be prepared on a going concern basis.

There are no material uncertainties about the charity’s ability to continue as a going concern.

13

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

1.3 Incoming resources

Donations are credited on a receivable basis unless related to a specific period, in which case they are deferred until that period.

All other income is recognised once the charity has entitlement to the resources, it is probable the resources will be received and the monetary value of the incoming resources can be measured with sufficient reliability.

1.4 Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis, including irrecoverable VAT and has been classified under headings that aggregate all costs related to the category.

Governance costs include those incurred with constitutional and statutory requirements.

1.5 Stocks

Stocks consist of catering supplies and have been valued at the lower of cost and net realisable value.

1.6 Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, bank overdrafts or other short-term liquid investments with original maturities of three months or less.

1.7 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

14

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as 'creditors: amounts falling due within one year' if payment is due within one year or less. If not, they are presented as 'creditors: amounts falling due after more than one year'. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8 Funds structure

Unrestricted funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects.

Restricted funds comprise those funds which the donor has specifically restricted the purpose for which they can be used.

1.9 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided on these assets at annual rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows:

Office equipment 20% straight line per annum

15

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

2 Analysis of total resources expended

Staff costs (note 4)
Food and drink purchases
Equipment
Repairs and maintenance
Premises costs
Office running costs
Service contracts
Professional and legal fees
Bank charges
Depreciation
Governance costs (note 3)		 Charitable
activities
Other
costs
2021
£
£
£
319,092
- 319,092
-
32,166
32,166
27,916
115
28,031
41,673
-
41,673
95,315
-
95,315
23,269
-
23,269
27,477
-
27,477
20,569
-
20,569
10,345
-
10,345
752
-
752
6,000
-
6,000
572,408
32,281604,689		 Charitable
activities
Other
costs
2020
£
£
£
380,351
- 380,351
-
17,445
17,445
21,530
11
21,541
19,868
-
19,868
85,258
-
85,258
34,818
-
34,818
16,044
-
16,044
1,264
-
1,264
6,218
-
6,218
753
-
753
6,000
-
6,000
572,104
17,456 589,560

3 Governance costs

Auditor’s remuneration 2021
£
6,000
6,000		 2020
£
6,000
6,000

4 Staff numbers and costs

The average number of persons employed by the company during the year was: 27 (2020: 27).

The aggregate payroll costs were as follows:

Wages and salaries
Social security costs
Pensions
Contractor costs		 2021
£
278,249
15,371
4,605
20,867
319,092		 2020
£
326,814
13,395
3,839
36,303
380,351

16

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

During the current year and previous period, the Trustees were not paid any remuneration or reimbursed for expenses, and no Trustees made donations to the charity.

Key management remuneration in total for the year was £nil (2020: £nil).

There were no employees whose emoluments were in excess of £60,000 per annum in the current year or previous period.

5 Taxation

None of the income received by the charity is subject to UK corporation tax. As such, there is no tax arising on the movement in funds during the year.

6 Tangible fixed assets

7

Cost
At 31 December 2020
Additions
At 1 January 2021
Depreciation
At 31 December 2020
Charge for the year
At 1 January 2021
Net book value
As at 31 December 2021
As at 31 December 2020
Stocks
Catering supplies
Cleaning supplies		 Equipment
£
8,480
-
8,480
799
752
1,551
6,929
7,681
2021
£
-
3,856
3,856		 Total
£
8,480
-
8,480
799
752
1,551
6,929
7,681
2020
£
-
358
358

17

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

8 Debtors

Trade debtors
Prepayments
Accrued income
Other debtors		 2021
£
25,200
1,324
-
90,097
116,621		 2020
£
-
374
-
58,789
59,163

9 Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 2,127 -
Accruals 28,279 32,739
Deferred Income 74,041 66,797
Other creditors 31,670 62,132
136,117 161,668
nalysis of charitable funds
1 January Incoming Resources
Transfers		 31 December
2021 resources expended
between funds		 2021
£ £ £
£		 £
Unrestricted
funds		 80,762 695,575 (604,689)
-		 171,648
Restricted
funds - - -
-		 -
80,762 695,575 (604,689) - 171,648

10 Analysis of charitable funds

Unrestricted
funds
Restricted
funds		 1 January
2020
Incoming
resources
Resources
expended
Transfers
between funds
31 December
2020
£
£
£
£
£
19,692
650,630
(589,560)
-
80,762
-
-
-
-
-
19,692
650,630
(589,560)
-
80,762

18

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

11 Analysis of net assets between funds

Tangible fixed assets

Stock

Debtors

Cash at bank and in hand

Creditors


Tangible fixed assets

Stock

Debtors

Cash at bank and in hand

Creditors

 Unrestricted
funds
Restricted
funds
Total funds
2021
£
£
£
6,929
-
6,929
3,856
-
3,856
116,621
-
116,621
180,359
-
180,359
(136,117)
-
(136,117)
171,648
-
171,648
Unrestricted
funds
Restricted
funds
Total funds
2020
£
£
£
7,681
-
7,681
358
-
358
59,163
-
59,163
175,228
-
175,228
(161,668)
-
(161,668)
80,762
-
80,762

12 Financial commitments

At the year end, contractual commitments totalling £nil (2020: £nil) were in place in respect of future building improvements work to be undertaken.

13 Related party transactions

Somerdale Pavilion Trust is related to St Monica Trustee Company Limited, which is the sole Trustee of St Monica Trust, by common directors.

During the year, St Monica Trust provided staff time and funds for operating expenses to the charity totalling £25,787 (2020: £64,884). The charity provided services to St Monica Trust in the form of parking and academy rent totalling £236,850 (2020: £236,850). The amount owed by St Monica Trust at the year-end was £84,185 (2020: £58,789).

19

Somerdale Pavilion Trust

Notes to the financial statements For the year ended 31 December 2021

14
Comparative Statement of financial activities
Unrestricted
funds
Restricted
funds
£
£
Income
Grant income
98,048
-
Charitable activities
289,994
-
Other trading activities
262,588
-
Total income
650,630
-
Expenditure
Charitable activities
(572,104)
-
Other
(17,456)
-
Total expenditure
(589,560)
-
Net income/(expenditure)
61,070
-
Net movement in funds
61,070
-
Total funds brought forward
19,692
-
Total funds carried forward
80,762
-		 Total funds
period ended 31
December 2020
£
98,048
289,994
262,588
650,630
(572,104)
(17,456)
(589,560)
61,070
61,070
19,692
80,762

20