2021-03-31-accounts

Neighbourhood Resource Centre Annual Report and Unaudited Financial Statements Year ended 31 March 2021 Company Registration No. 11560800 (England and Wales) Charity Registration No. 1184205

Legal and administrative information

Trustees	S Rahman
	H Rahman
	G Miah
Charity number	1184205
Company number	11560800
Principle address	Neighbourhood Resource Centre
	C/O Prestige Hall
	Ventnor Street
	Bradford
	BD3 9JP
Bankers	Barclays Bank
	10 Market St
	Bradford
	BD1 1EG
Accountants	Taxcom Accounting Services Ltd
	19 Chatsworth Road
	Pudsey
	LS28 8JS

CONTENTS

	Page
Trustees report	1-2
Independent examiner's report	3-4
Statement of financial activities	5-6
Balance sheet	7
Notes to the accounts	8-15

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) NEIGHBOURHOOD RESOURCE CENTRE YEAR ENDED 31 MARCH 2021

The Trustees present their report and financial statements for the year ended 31 March 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association , the Companies Act 2006 and “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 2015)”

Objectives and activities

The charity's objects are to advance and deliver community projects based around education, health, sports, environment, equalities and other charitable needs.

To focus on meeting the needs of local people and to help the community to form action for positive change.

Neighbourhood Resource Centre (NRC) is a community centre which, aims to work together with voluntary and community organisations in a common effort to advance education, to provide facilities in the interest of social welfare and for recreation along with other leisure time occupations with the objects to improving the conditions of life of local people.

Financial review

Income for the year amounted to £152,716 (2019 £45,763), with expenditure amounting to £76,701 (2019 £42,300) leaving a surplus of £76,015 (2019 £3,463). All surplus are reinvested into the charity for the delivery of charitable activities.

The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. With unrestricted funds of £76,015 at 31 March 2021, at this level of reserves has been reached.

Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as ‘soliciting or otherwise procuring money or other property for charitable purposes’. The charity does not actively raise funds from the public either directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. The charity has received no complaints in relation to fundraising activity for the year under review.

1

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) NEIGHBOURHOOD RESOURCE CENTRE YEAR ENDED 31 MARCH 2021 (CONTINUED)

Given the nature of the funding of the charity the Trustees consider that it remains appropriate not to be voluntarily bound to be regulated by the Fundraising Regulator.

The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a Private Limited Company without share capital incorporated on 10 September 2018, number 11560800. It was registered as a charity in England and Wales on 02 July 2019, number 1184205.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: S Rahman H Rahman G Miah

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

NRC Trustees have complied with duty as outlined by the 2006 charities Act. A dedicated trustee has been responsible for presenting up to date information to the board in regards to Charity Commission Guidance, Public Benefit.

A dedicated trustee has also been responsible for looking at risk assessments and health and safety whilst delivering NRC activities.

The Charity is run by the trustees as listed on the legal and administrative information page.

The Trustees report was approved by the Board of Trustees.

…………………………………………. Shahidur Rahman Trustee (Chair)

Dated: 26/03/22

2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEIGHBOURHOOD RESOURCE CENTRE YEAR ENDED 31 MARCH 2021

I report on the financial statements of the charity for the year ended 31 March 2021, which are set out on pages 5 to 15.

Respective responsibilities of Trustees and examiner

The charity’s Trustees, who are also the directors of NRC for the purposes of company law, are responsible for the preparation of the financial statements. 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:

(i) examine the financial statements under section 145 of the 2011 Act;

(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

(iii) to 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

In connection with my examination, no matter has come to my attention: (a) which gives me reasonable cause to believe that in any material respect the requirements:

(i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and

(ii) to prepare financial statements 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

(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Continued ……..

3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEIGHBOURHOOD RESOURCE CENTRE YEAR ENDED 31 MARCH 2021 (CONTINUED)

…………………………………………. Tauhid Ahmed Taxcom Accounting services Ltd 19 Chatsworth Road Pudsey West Yorkshire LS28 8JS Date: 26/03/22

4

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

		2020	2020	2020	2019
		Unrestricted	Restricted	Total	Total
		Funds £	Funds £	Funds £	Funds £
	Notes
Income from:
Grants	3	38,336.60	76,701.40	115,038.00	25,354.18
Venue hire - Prestige Hall	4	400.00	0.00	400.00	15,284.00
Office rent	4	5,350.00	0.00	5,350.00	5,005.13
Other income	5	31,928.34	0.00	31,928.34	120.00
Total receipts		76,014.94	76,701.40	152,716.34	45,763.31
Expenditure on:	6
Cleaning		0.00	200.00	200.00	0.00
Sports equipment		0.00	538.91	538.91	821.88
Utility cost		0.00	3,819.59	3,819.59	0.00
Advertisement		0.00	0.00	0.00	175.00
Accountancy		0.00	400.00	400.00	400.00
Insurance		0.00	1,790.91	1,790.91	3,351.98
Repair & maintenance		0.00	8,151.00	8,151.00	320.00
Activity costs		0.00	0.00	0.00	2,407.56
Room hire		0.00	0.00	0.00	250.00
Project delivery		0.00	30,091.38	30,091.38	0.00
Staffing		0.00	16,648.00	16,648.00	8,234.84
Telephone/Internet		0.00	680.44	680.44	0.00
Venue hire		0.00	200.00	200.00	1,080.00
Rent		0.00	8,058.00	8,058.00	9,335.00
Refurbishment		0.00	0.00	0.00	5,150.00
Running costs		0.00	423.17	423.17	9,073.61
Security costs		0.00	5,700.00	5,700.00	1,700.00
Total payments		0.00	76,701.40	76,701.40	42,299.87
Net incoming/(outgoing)
resources before transfers		76,014.94	0.00	76,014.94	3,463.44
Gross transfers between funds		0.00	0.00	0.00	0.00
Net income/(expenditure)
for the year/
Net movement in funds		76,014.94	0.00	76,014.94	0.00
Fund balances at 1 April 2020		15,737.14	0.00	15,737.14	0.00
Fund balances at 31 March
2021		91,752.08	0.00	91,752.08	0.00
Continued ……..					5

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

6

STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2021

Notes 10 0.00 12 0.00 91,752.08 91,752.08 13 (30,400.00) 61,352.08 61,352.08 14 0.00 91,752.08 91,752.08 Unrestricted funds Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Income funds Restricted funds Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 2020 £ 2020 £	Notes 10 0.00 12 0.00 91,752.08 91,752.08 13 (30,400.00) 61,352.08 61,352.08 14 0.00 91,752.08 91,752.08 Unrestricted funds Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Income funds Restricted funds Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 2020 £ 2020 £	Notes 10 0.00 12 0.00 91,752.08 91,752.08 13 (30,400.00) 61,352.08 61,352.08 14 0.00 91,752.08 91,752.08 Unrestricted funds Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Income funds Restricted funds Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 2020 £ 2020 £	0.00 0.00 15,737.14 15,737.14 (400.00) 15,337.14 15,337.14 0.00 (200.00) (200.00) 2019 £ 2019 £	0.00 0.00 15,737.14 15,737.14 (400.00) 15,337.14 15,337.14 0.00 (200.00) (200.00) 2019 £ 2019 £
		61,352.08		15,337.14
		0.00 91,752.08		0.00 (200.00)
		91,752.08		(200.00)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.

The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 26/03/22

…………………………………………….

Shahidur Rahman Trustee (Chair) Company Registration No. 11560800

7

NOTES TO THE FINANCIAL STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting Policies

Charity information

Neighbourhood Resource Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is Ventnor Street, Bradford, BD3 9JP.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. However, Covid 19 pandemic has had impact from March 2020 of this financial year and our activities and services were impacted and we delivered a reduced services and some were suspended. The significant challenges faced by Covid will be detailed in 20-21 next year.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

Continued ……..

8

NOTES TO THE FINANCIAL STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

1 Accounting Policies (Continued)

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 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.

Support costs have been allocated to activity costs on an actual cost basis, plus a contribution to core costs if funds are available.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements	10% straight line
Fixtures and fittings	50% straight line
Computers	50% straight line
Motor vehicles	25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. Continued ……..

9

NOTES TO THE FINANCIAL STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

1 Accounting Policies (Continued)

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity 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 charity's balance sheet when the charity 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 include debtors and cash and bank balances, 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. Financial assets classified as receivable within one year are not amortised.

Continued ……..

10

NOTES TO THE FINANCIAL STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

1 Accounting Policies (Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 p aymen ts 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 operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Continued ……..

11

NOTES TO THE FINANCIAL STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

2 Critical accounting estimates and judgements (Continued)

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Grants

Bradford City Council Church Urban Fund - Neighbours Project Bradford Council-Seymour Park Project Bradford Trident-Parents in The Lead ESC Lottery Fund Groundwork UK BEAP CAF Local Connect fund NLCF (Covid 19 Response)	0.00 66,718.00 66,718.00 0.00 0.00 0.00 0.00 4,450.00 0.00 0.00 0.00 1,126.38 0.00 0.00 0.00 1,710.00 16.60 9,983.40 10,000.00 9,083.00 0.00 0.00 0.00 7,234.80 0.00 0.00 0.00 1,750.00 10,000.00 0.00 10,000.00 0.00 1,920.00 0.00 1,920.00 0.00 26,400.00 0.00 26,400.00 0.00 2020 Unrestricted Funds £ 2020 Restricted Funds £ 2020 Total Funds £ 2019 Total Funds £
	38,336.60 76,701.40 115,038.00 25,354.18

4 Venue hire - Prestige Hall/ Office Rent

4 Venue hire - Prestige Hall/ Office Rent
Prestige Hall Venue Hire contributions Office Rent	400.00 0.00 400.00 15,284.00 5,350.00 0.00 5,350.00 5,005.13 2020 Unrestricted Funds £ 2020 Restricted Funds £ 2020 Total Funds £ 2019 Total Funds £
	5,750.00 0.00 5,750.00 20,289.13

Prestige hall is a trading name of Neighbourhood Resource Centre.

Continued ……..

12

NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

5 Other Income

Bounce Back Loan (BBL) Other Income	30,000.00 0.00 30,000.00 0.00 1,928.38 0.00 1,928.38 120.00 2019 Total Funds £ 2020 Unrestricted Funds £ 2020 Restricted Funds £ 2020 Total Funds £
	31,928.38 0.00 31,928.38 120.00

Other income contains £30,000 Bounce back loan, £1500 New vision signs, £200 Affinity seven law, £108.34 Northampton PLC.

6 Expenditure

All other costs are classed as activities and advice.

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration , benefits or expenses from the charity during the current or previous financial year.

8 Employees

Number of employees

The average monthly number of employees during the year was:

Wages and salaries Employment costs	0 0 2020 Number 2019 Number
	0 0 2020 £ 2019 £

No employee earned more than £60,000 during the current or previous financial year.

Continued ……..

13

NOTES TO THE FINANCIAL STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

9 Taxation

As a charity the company is exempt from tax on income falling within part II of the Corporation Tax Act 2010 and on gains falling within s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax charges have arisen in the charity.

10 Tangible fixed assets

No tangible fixed assets.

11 Financial instruments

No financial instruments.

12 Debtors

Amounts falling due within one year:

No debtors.

13 Creditors: amounts falling due within one year

Creditors includes BBL £30,000 (2019 £nil) and £400 accountancy fee (2019 £400).

14 Restricted funds

The income funds of the charity include restricted funds, note 2 outlined the detail of the funds. Core cost contributions are included in expenditure.

16 Funds

General funds Restricted funds General funds Restricted funds Funds prior year	15,737.14 76,014.94 0.00 91,752.08 76,701.40 (76,701.40) 0.00 Balance at 31 March 2021 £ Balance at 1 April 2020 £ Incoming resources £ Resource expended £
	15,737.14 152,716.34 (76,701.40) 91,752.08
	11,873.70 20,409.13 (16,945.69) 15,337.14 0.00 25,354.18 (25,354.18) 0.00 Balance at 1 April 2019 £ Incoming resources £ Resource expended £ Balance at 31 March 2020 £
	11,873.70 45,763.31 (42,299.87) 15,337.14

Continued ……..

14

NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED)

17 Related party transactions

No transactions with related parties have taken place during the current or previous financial year which require disclosure.

15