**REGISTERED CHARITY NUMBER: 1182841**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
The Peel Centre Charitable Trust (CIO)
C J Woodhead & Co Ltd 158 Hemper Lane Greenhill Sheffield South Yorkshire S8 7FE
The Peel Centre Charitable Trust (CIO)
Contents of the Financial Statements for the Year Ended 31 December 2021
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 12|
|Detailed Statement of Financial Activities|13 to 14|
The Peel Centre Charitable Trust (CIO)
## Report of the Trustees for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in 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**
To further or benefit the residents of Dronfield and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for residents.
In furtherance of these objects but not otherwise, the Trustees shall have power:
To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects.
## **ACHIEVEMENT AND PERFORMANCE**
## **Fundraising activities**
The main sources of income are from the letting of rooms at affordable rates to community groups together with donations and legacies.
The Peel Centre was closed in March 2020, due to the Covid-19 Pandemic, and re-opened fully in September 2021. Therefore, the income from lettings were cut during that period and the Trustees were very grateful to receive grants income provided by the Government via North East Derbyshire District Council.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
Under the constitution, the charity has the power to invest in any way that the Trustees wish but subject to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000.
The trustees operate a deposit account, which interacts with the current account whilst producing an interest return on the surplus funds.
## **Reserves policy**
The trustees have established the level of reserves that the charity ought to have. Reserves are needed to bridge funding gaps should there be a shortfall in lettings.
The trustees consider that the level of reserves required, excluding fixed assets to be £5000. The actual level of reserves at 31st December 2021 was £305,649 (2020 - £285,072).
Page 1
The Peel Centre Charitable Trust (CIO)
## Report of the Trustees for the Year Ended 31 December 2021
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Peel Centre is a charitable incorporated organisation governed by its constitution dated 5th April 2019. It is registered as a charity with the Charities Commission. Membership of the CIO must be approved by the Board of Trustees.
The members of the CIO shall be its charity trustees for the time being. The only persons eligible to be members of the CIO are its charity trustees. Membership of the CIO cannot be transfered to anyone else.
Any member and charity trustee who ceases to be a charity trustee automatically ceases to be a member of the CIO.
## **Recruitment and appointment of new trustees**
As set out in the constitution the trustees shall be subject to a maximum of twelve trustees and shall not be less than three trustees.The only persons eligible to be members of the CIO are its charity trustees.
## **Organisational structure**
The Board of Trustees administers the Charity. The Board meets monthly.
## **Induction and training of new trustees**
New trustees are briefed on their legal obligations under charity and company law, the content of the constitution, the committee and the recent financial performance of the charity.
## **Related parties**
The charity has a close relationship with The Dronfield Heritage Trust, an organisation responsible for maintaining, promoting and utilising an historic barn which is situated close to the Peel Centre.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1182841
## **Principal address**
High Street Dronfield Derbyshire S18 1PY
## **Trustees**
Mrs D Smillie B Simpson Miss C Vaughan Miss J Ward M Baker (appointed 16.11.21)
## **Independent Examiner**
C J Woodhead & Co Ltd 158 Hemper Lane Greenhill Sheffield South Yorkshire S8 7FE
Page 2
The Peel Centre Charitae Twsl ICIOI
ReFQrt of the Trustees
for the Year Ended 31 Dember 2021
COMMENCEMENT OF ACTMTIES
The CIO commenced its actwilies on 01107119.
Approved by order of the board of trustees on ..11 ..aa**W....20.2Land signed on its
behalf by..
Trustee
Page 3
Independent Examiner's Report to the Trustees of The Peel Centre Charitable Trust (CIO)
## **Independent examiner's report to the trustees of The Peel Centre Charitable Trust (CIO)**
I report to the charity trustees on my examination of the accounts of The Peel Centre Charitable Trust (CIO) (the Trust) for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Christopher John Woodhead C J Woodhead & Co Ltd 158 Hemper Lane Greenhill Sheffield South Yorkshire S8 7FE
Date: .............................................
Page 4
The Peel Centre Charitable Trust (CIO)
## Statement of Financial Activities for the Year Ended 31 December 2021
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other income
**Total**
**EXPENDITURE ON**
Other
**NET INCOME/(EXPENDITURE)**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
13,849
16,335
30,184
23,357
6,827
13,750
20,577
285,072
305,649|Restricted
fund
£
-
-
-
-
-
-
-
-
-|31.12.21
Total
funds
£
13,849
16,335
30,184
23,357
6,827
13,750
20,577
285,072
305,649|31.12.20
Total
funds
£
6,401
11,464
17,865
20,433
(2,568)
-
(2,568)
287,640
285,072|
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
The Peel Centre Charitabl8 Tnjst (CIO)
Balan Sheet
31 December 2021
31.12.21
Tot81
funds
31.12.20
Totsl
fijnds
Unrestricted Restricted
fund
ftjnd
FIXED ASSETS
Tangible assets
234.906
234.9)8
223,110
CURRENT ASSETS
Debtors
Cash al ban1(
1,682
71.941
1.682
71,941
1.246
63,545
73,623
73,623
64,791
CREDITORS
Amounts falling due wthin oné yoar
12.8821
(2.8821
12,829)
NET CURRENT ASSETS
70.741
70.741
61,962
TOTAL ASSETS LESS CURRENT
UABILITIES
305.649
305,649
285,072
NET ASSETS
305,649
305,649
285,072
FUNDS
Unrestricted fvnds
305,649
285,072
TOTAL FUNDS
305,649
285,072
The financial stslemenls were approved by the Board of Tnthes and authorised for Issue on
.Li..aKJd)£r...2K)ZLarKI were signed on ils behalf by..
Trustee
The notes form part of these finan¢ial stalements
Page 6
The Peel Centre Charitable Trust (CIO)
Notes to the Financial Statements for the Year Ended 31 December 2021
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to 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.
Plant and machinery - 20% on reducing balance Fixtures and fittings - 20% on reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. 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.
Page 7
continued...
The Peel Centre Charitable Trust (CIO)
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **2. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||31.12.21|31.12.20|
||£|£|
|Gifts|1|2|
|Donations|4,000|500|
|Lettings|9,848|5,899|
||13,849|6,401|
The donation of £4,000 relates to an amount advanced to Dronfield Heritage Trust in 2009 by the Peel Centre Charitable Trust before it became a CIO.
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Some trustees were refunded for small items in the nature of cleaning materials or repairs that they had purchased at their own cost.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other income
**Total**
**EXPENDITURE ON**
Other
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED**
**FORWARD**|Unrestricted
fund
£
6,401
11,464
17,865
20,433
(2,568)
287,640
285,072|Restricted
fund
£
-
-
-
-
-
-
-|Total
funds
£
6,401
11,464
17,865
20,433
(2,568)
287,640
285,072|
|---|---|---|---|
Page 8
continued...
The Peel Centre Charitable Trust (CIO)
## Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **5. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1 January 2021
Revaluations
At 31 December 2021
**DEPRECIATION**
At 1 January 2021
Charge for year
At 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Improvements
Freehold
to
property
property
£
£
200,000
11,250
25,000
(11,250)
225,000
-
-
-
-
-
-
-
225,000
-
200,000
11,250|Plant and
machinery
£
14,572
-
14,572
6,184
1,258
7,442
7,130
8,388|Fixtures
and
fittings
£
6,043
-
6,043
2,571
694
3,265
2,778
3,472|Totals
£
231,865
13,750|
|---|---|---|---|---|
|||||245,615|
|||||8,755
1,952|
|||||10,707|
|||||234,908|
|||||223,110|
Cost or valuation at 31 December 2021 is represented by:
|||||Fixtures||
|---|---|---|---|---|---|
|||Freehold|Plant and|and||
|||property|machinery|fittings|Totals|
|||£|£|£|£|
|Valuation in|2021|225,000|14,572|6,043|245,615|
The Trustees arranged a valuation of the Peel Centre Building on 26th May 2021. The report valued the building at £225,000 (including previous improvements) and revaluations have been made in the accounts to reflect this.
## **6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||31.12.21|31.12.20|
|---|---|---|
||£|£|
|Prepayments and accrued income|1,682|1,246|
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continued...
The Peel Centre Charitable Trust (CIO)
## Notes to the Financial Statements - continued for the Year Ended 31 December 2021
|**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**8.**
**MOVEMENT IN FUNDS**
At 1.1.21
£
**Unrestricted funds**
General fund
285,072
**TOTAL FUNDS**
285,072
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
30,184
(23,357)
**TOTAL FUNDS**
30,184
(23,357)
**Comparatives for movement in funds**
At 1.1.20
£
**Unrestricted funds**
General fund
287,640
**TOTAL FUNDS**
287,640|31.12.21
£
349
2,533
2,882
Net
movement
in funds
£
20,577
20,577
Gains and
losses
£
13,750
13,750
Net
movement
in funds
£
(2,568)
(2,568)|31.12.20
£
755
2,074
2,829
At
31.12.21
£
305,649
305,649
Movement
in funds
£
20,577
20,577
At
31.12.20
£
285,072
285,072|
|---|---|---|
Page 10
continued...
The Peel Centre Charitable Trust (CIO)
## Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **8. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|17,865|(20,433)|(2,568)|
|**TOTAL FUNDS**|17,865|(20,433)|(2,568)|
A current year 12 months and prior year 12 months combined position is as follows:
|At 1.1.20
£
**Unrestricted funds**
General fund
287,640
**TOTAL FUNDS**
287,640
A current year 12 months and prior year 12 months combined
included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
48,049
(43,790)
**TOTAL FUNDS**
48,049
(43,790)|Net
movement
At
in funds
31.12.21
£
£
18,009
305,649
18,009
305,649
net movement in fund
Gains and
Movement
losses
in funds
£
£
13,750
18,009
13,750
18,009|
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Page 11
continued...
The Peel Centre Charitable Trust (CIO)
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2021.
Page 12
The Peel Centre Charitable Trust (CIO)
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 December 2021|||
||31.12.21|31.12.20|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|1|2|
|Donations|4,000|500|
|Lettings|9,848|5,899|
||13,849|6,401|
|**Other income**|||
|Grant income received|16,335|11,334|
|Other income|-|130|
||16,335|11,464|
|**Total incoming resources**|30,184|17,865|
|**EXPENDITURE**|||
|**Support costs**|||
|**Management**|||
|Salaries|3,454|2,718|
|Rates and water|674|684|
|Insurance|860|767|
|Light and heat|1,947|2,616|
|Postage and stationery|-|29|
|Sundries|65|17|
|Repairs & renewals|2,814|1,422|
|Gardening|528|456|
|Cleaning & waste disposal|4,867|3,253|
|Administrative costs|4,530|1,288|
|Decorating|-|2,800|
|Publicity & advertising|-|175|
|Donations|-|50|
|IT maintenance|369|247|
|Lecture 2019|-|101|
|Plant and machinery|1,258|2,097|
|Fixtures and fittings|694|868|
||22,060|19,588|
|**Governance costs**|||
|Telephone & broadband|317|395|
|Carried forward|317|395|
This page does not form part of the statutory financial statements
Page 13
The Peel Centre Charitable Trust (CIO)
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 December 2021|||
||31.12.21|31.12.20|
||£|£|
|**Governance costs**|||
|Brought forward|317|395|
|Accountancy & professional fees|980|450|
||1,297|845|
|Total resources expended|23,357|20,433|
|**Net income/(expenditure)**|6,827|(2,568)|
This page does not form part of the statutory financial statements
Page 14