Company registration number: CE017890 Charity registration number: 1183959
## The Palmer Centre
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 June 2021
bdhc Chartered Accountants 11 Moor Street Chepstow Monmouthshire NP16 5DD
## **The Palmer Centre**
## **Contents**
**----- Start of picture text -----**
Reference and Administrative Details 1
Trustees' Report 2
Independent examiner's report 3
Statement of financial activities 4
Balance Sheet 5 to 6
Notes to the financial statements 7 to 14
**----- End of picture text -----**
The following pages do not form part of the statutory financial statements:
Statement of financial activities per fund
15 to 17
## **The Palmer Centre Reference and Administrative Details**
|**Charity name**|The Palmer Centre|
|---|---|
|**Charity registration number**|1183959|
|**Company registration number**|CE017890|
|**Principal office**|Place de Cormeilles|
||High Street|
||Chepstow|
||Monmouthshire|
||NP16 5LH|
|**Registered office**|Place de Cormeilles|
||High Street|
||Chepstow|
||Monmouthshire|
||NP16 5LH|
|**Trustees**|Mr P S Farley, Chairman|
||Mr M Le Peltier|
||Mr R Richardson-Aitken|
||Rev. S Jackson|
||Mrs P Osley|
|**Accountant**|bdhc Chartered Accountants|
||11 Moor Street|
||Chepstow|
||Monmouthshire|
||NP16 5DD|
Page 1
## **The Palmer Centre**
## **Trustees' Report**
The past year has been very much a continuation from the year I described in my last report. The core activities of The Palmer Centre have been sustained with some difficulty due to the Covid-19 emergency with its enforced periods of closure and uncertainty on the part of our customers and regular hirers.
Our Centre is an invaluable resource for the community in Chepstow and beyond, a welcoming place that provides for some of our people their main or only source of companionship. Our Café continues to offer affordable food and drink of good quality in a unique environment in the heart of Chepstow. Nevertheless, these are challenging times and we recognise the need to increase awareness of who we are and what we do, to extend our range of activities and to seek new hirers for our facilities to replace those who have not yet returned or are not able to return.
A visit to our website at[www.palmercentre.org.uk] will quickly give a flavour of the regular weekly activities organised or hosted by The Palmer Centre, including our own Monday and Friday Clubs, small professionally run groups to help elderly people, people with dementia, their carers, relatives and friends.
There are limits to how far we can adjust to operating in changed and changing circumstances without working with other organisations or seeking help from various sources. We are fortunate to have received generous and welcome support this year from Chepstow Town Council, Community Foundation Wales, Gwent Association of Voluntary Organisations (GAVO), Monmouthshire County Council and Wales Council for Voluntary Action (WCVA). We have also benefited from the generosity of the Monmouthshire and UK Freemasons who have enabled us to improve the chairs and tables in the main hall. We will be looking to build on all this support and to strengthen our links and partnerships with others.
In conclusion I can report a fundamental optimism about The Palmer Centre, above all because of the loyalty of our customers and users and the hard work, unwavering support, commitment and energy of our staff, volunteers and trustees.
## **Peter Farley**
## **Chair**
## **Small company provisions**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board and signed on its behalf by:
......................................... ......................................... Mr P S Farley Mr M Le Peltier Trustee Trustee Date:................................ Date:................................
Page 2
## **Independent Examiner's Report to the Trustees[of]**
## **The Palmer Centre**
I report on the accounts of the company for the year ended 30[June ] 2021, which are set out on pages 4 to 14.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the 2011 Act ;
- follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act ; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................... 11 Moor Street bdhc Chartered Accountants Chepstow Monmouthshire NP16 5DD Date:................................
Page 3
## **The Palmer Centre**
## **Statement of Financial Activities (including Income and Expenditure Account[) for] the[Year ] Ended 30 June 2021**
|**Note**
**Incoming resources**
Incoming resources from generated funds
Voluntary income
2
Incoming resources from charitable
activities
4
Other incoming resources
5
Total incoming resources
**Resources expended**
Costs of generating funds
Costs of generating voluntary income
6
Charitable activities
6
Governance costs
6
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricte**
**d Funds**
**£**
24,859
19,595
-
44,454
-
32,185
2,322
34,507
9,947
18,946
28,893|**Restricted**
**Funds**
**£**
43,250
-
-
43,250
-
17,092
-
17,092
26,158
-
26,158|**Total Funds**
**2021**
**£**
68,109
19,595
-
87,704
-
49,277
2,322
51,599
36,105
18,946
55,051|**Total Funds**
**2020**
**£**
9,012
46,752
15,717|
|---|---|---|---|---|
|||||71,481|
|||||8,912
60,890
2,300|
|||||72,102|
|||||(621)
19,567|
|||||18,946|
All incoming resources and resources expended derive from continuing activities.
The notes on pages 7 to 14 form an integral part of these financial statements.
Page 4
## **The Palmer Centre (Registration number: CE017890)**
## **Balance Sheet as at 30 June 2021**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Stocks and work in progress
12
Debtors
13
Cash at bank and in hand
**Creditors: Amounts falling due**
**within one year**
14
**Net current assets**
**Total assets less current**
**liabilities**
**Creditors: Amounts falling due**
**after more than one year**
15
**Net assets**
**The funds of the charity:**
**Restricted funds**
**Unrestricted funds**
Unrestricted income funds
**Total charity funds**|**2021**
**£**
**£**
9,969
400
4,177
50,831
55,408
(2,263)
53,145
63,114
(8,063)
55,051
26,158
28,893
55,051|**2020**
**£**
**£**
4,963
226
1,876
14,143
16,245
(2,262)
13,983
18,946
-
18,946
-
18,946
18,946|**2020**
**£**
**£**
4,963
226
1,876
14,143
16,245
(2,262)
13,983
18,946
-
18,946
-
18,946
18,946|
|---|---|---|---|
||||18,946
-|
||||18,946|
||||-
18,946|
||||18,946|
The notes on pages 7 to 14 form an integral part of these financial statements.
Page 5
## **The Palmer Centre (Registration number: CE017890)**
## **Balance Sheet as at 30 June 2021**
_.........[continued]_
For the financial year ended 30[June ] 2021, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on ................... and signed on its behalf by:
.........................................
Mr P S Farley Trustee
......................................... Mr M Le Peltier Trustee
The notes on pages 7 to 14 form an integral part of these financial statements.
Page 6
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
## **1 Accounting policies**
## **Basis of preparation**
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, applicable accounting standards and the Companies Act 2006.
## **Fund accounting policy**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further details of each fund are disclosed in note 18.
## **Incoming resources**
Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
## **Resources expended**
Liabilities are recognised 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 and has been classified under headings that aggregate all costs related to the category.
Costs of generating funds are the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Page 7
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
_.........[continued]_
## **Fixed assets**
Individual fixed assets costing £0 or more are initially recorded at cost.
## **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Fixtures and fittings
15% reducing balance basis
## **Stock**
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
## **Operating leases**
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
## **2 Voluntary income**
|**Donations and legacies**
Appeals and donations
**Grants**
Grants|**Unrestricte**
**d Funds**
**£**
44
24,815
24,859|**Restricted**
**Funds**
**£**
-
43,250
43,250|**Total Funds**
**2021**
**£**
44
68,065
68,109|**Total Funds**
**2020**
**£**
100
8,912|
|---|---|---|---|---|
|||||9,012|
## **3 Grants receivable**
|Grants|**Unrestricte**
**d Funds**
**£**
24,815
Page 8|**Restricted**
**Funds**
**£**
43,250|**Total Funds**
**2021**
**£**
68,065|**Total Funds**
**2020**
**£**
8,912|
|---|---|---|---|---|
||||||
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
_.........[continued]_
## **4 Incoming resources from charitable activities**
|**Charitable activity 1**
Sale of refreshments
Other income
Room hire
**Other incoming resources**
**Other income**
Other income|**Unrestricte**
**d Funds**
**£**
11,262
1,781
6,552
19,595
**Unrestricte**
**d Funds**
**£**
-|**Restricted**
**Funds**
**£**
-
-
-
-
**Restricted**
**Funds**
**£**
-|**Total Funds**
**2021**
**£**
11,262
1,781
6,552
19,595
**Total Funds**
**2021**
**£**
-|**Total Funds**
**2020**
**£**
34,406
-
12,346|
|---|---|---|---|---|
|||||46,752|
|||||**Total Funds**
**2020**
**£**
15,717|
## **5 Other incoming resources**
Page 9
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
_.........[continued]_
## **6 Total resources expended**
|**Direct costs**
Cost of goods sold
Employment costs
Establishment costs
Repairs and maintenance
Office expenses
Printing, posting and stationery
Equipment hire
Sundry and other costs
Advertising and promotion
Accountancy fees
Legal and professional costs|**Charitable**
**activity 1**
**£**
2,848
34,579
6,535
590
(301)
235
1,382
260
117
-
3,032
49,277|**Governance**
**£**
-
-
-
-
-
-
-
-
-
2,322
-
2,322|**Total**
**£**
2,848
34,579
6,535
590
(301)
235
1,382
260
117
2,322
3,032|
|---|---|---|---|
||||51,599|
## **7 Trustees' remuneration and expenses**
No trustees received any remuneration during the year.
## **8 Net income/(expenditure)**
|Net income/(expenditure) is stated after charging:
Hire of plant and machinery - operating leases
Hire of other assets - operating leases|**2021**
**£**
1,382
-|**2020**
**£**
2,060
10|
|---|---|---|
Page 10
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
_.........[continued]_
## **9 Employees' remuneration**
The aggregate payroll costs of these persons were as follows:
|Wages and salaries|**2021**
**£**
34,579|**2020**
**£**
38,948|
|---|---|---|
No employee received emoluments of more than £60,000 during the year (2020 - No. 0).
## **10 Taxation**
The company is a registered charity and is, therefore, exempt from taxation.
Page 11
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
_.........[continued]_
## **11 Tangible fixed assets**
|**Cost**
As at 1 July 2020
Additions
As at 30 June 2021
**Depreciation**
As at 1 July 2020 and 30 June 2021
**Net book value**
As at 30 June 2021
As at 30 June 2020
**12**
**Stocks and work in progress**
Stocks
**13**
**Debtors**
Trade debtors
Prepayments and accrued income|**Plant and**
**machinery**
**including**
**motor**
**vehicles**
**£**
302
-
302
302
-
-||**Fixtures,**
**fittings and**
**equipment**
**£**
12,621
5,006
17,627
7,658
9,969
4,963
**2021**
**£**
400
**2021**
**£**
3,697
480
4,177|**Total**
**£**
12,923
5,006
17,929
7,960
9,969
4,963
**2020**
**£**
226|
|---|---|---|---|---|
|||||**2020**
**£**
1,876
-|
|||||1,876|
Page 12
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
_.........[continued]_
## **14 Creditors: Amounts falling due within one[year]**
|Trade creditors
Accruals and deferred income|**2021**
**£**
1,318
945
2,263|**2020**
**£**
1,317
945|
|---|---|---|
|||2,262|
## **15 Creditors: Amounts falling due after more than one[year]**
|Other creditors|**2021**
**£**
8,063|**2020**
**£**
-|
|---|---|---|
## **16 Members' liability**
The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
Page 13
## **The Palmer Centre**
## **Notes to the Financial Statements for the[Year ] Ended 30 June 2021**
_.........[continued]_
## **17 Related parties**
## **Controlling entity**
The charity is controlled by the trustees who are all directors of the company.
## **18 Analysis of funds**
|**General Funds**
Unrestricted income fund
**Restricted Funds**
Restricted income fund|**At 1 July**
**2020**
**£**
18,946
-
18,946|**Incoming**
**resources**
**£**
44,454
43,250
87,704|**Resources**
**expended**
**£**
(34,507)
(17,092)
(51,599)|**At 30 June**
**2021**
**£**
28,893
26,158|
|---|---|---|---|---|
|||||55,051|
## **19 Net assets by fund**
|Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Creditors: Amounts falling due
after more than one year
Net assets|**Unrestricted**
**Funds**
**£**
9,969
41,833
(22,909)
-
28,893|**Restricted**
**Funds**
**£**
-
34,221
-
(8,063)
26,158|**Total Funds**
**2021**
**£**
9,969
55,408
(2,263)
(8,063)
55,051|**Total Funds**
**2020**
**£**
4,963
16,245
(2,262)
-
18,946|
|---|---|---|---|---|
Page 14
## **The Palmer Centre**
## **Statement of financial activities by fund[Year ] Ended 30 June 2021**
|**Incoming resources**
Incoming resources from generated funds
Voluntary income
Incoming resources from charitable activities
Other incoming resources
Total incoming resources
**Resources expended**
Charitable activities
Governance costs
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricte**
**d income**
**fund**
**2021**
**£**
24,859
19,595
-
44,454
32,185
2,322
34,507
9,947
18,946
28,893|**Unrestricte**
**d income**
**fund**
**2020**
**£**
100
46,752
15,717|
|---|---|---|
|||62,569|
|||60,890
2,300|
|||63,190|
|||(621)
19,567|
|||18,946|
This page does not form part of the statutory financial statements.
Page 15
## **The Palmer Centre**
## **Statement of financial activities by fund[Year ] Ended 30 June 2021**
|_......... continued_
**Incoming resources**
Incoming resources from generated funds
Voluntary income
Total incoming resources
**Resources expended**
Costs of generating funds
Costs of generating voluntary income
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Integrated**
**Care Fund**
**2021**
**£**
-
-
-
-
-
-
-|**Integrated**
**Care Fund**
**2020**
**£**
8,912|
|---|---|---|
|||8,912|
|||8,912|
|||8,912|
|||-
-|
|||-|
This page does not form part of the statutory financial statements.
Page 16
## **The Palmer Centre**
## **Statement of financial activities by fund[Year ] Ended 30 June 2021**
|_......... continued_
**Incoming resources**
Incoming resources from generated funds
Voluntary income
Total incoming resources
**Resources expended**
Charitable activities
Total resources expended
**Reconciliation of funds**
Total funds carried forward|**Restricted**
**income**
**fund**
**2021**
**£**
43,250
43,250
17,092
17,092
26,158|**Restricted**
**income**
**fund**
**2020**
**£**
-|
|---|---|---|
|||-|
|||-|
|||-|
||||
|||-|
This page does not form part of the statutory financial statements.
Page 17