REGISTERED CHARITY NUMBER: 1184499
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
The Swivel Club CIO
David Robinson FCCA A & S Consultancy 35 Colworth House Colworth Park Sharnbrook Bedford MK44 1LQ
The Swivel Club CIO
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 |
The Swivel Club 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an incorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1184499
Principal address
111 Bradshaw Way Irchester WELLINGBOROUGH Northamptonshire NN29 7DW
Trustees
R Waterfield M Waters C Beckett
Independent Examiner
David Robinson FCCA A & S Consultancy 35 Colworth House Colworth Park Sharnbrook Bedford MK44 1LQ
Approved by order of the board of trustees on 12 October 2022 and signed on its behalf by:
M Waters - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Swivel Club CIO
Independent examiner's report to the trustees of The Swivel Club CIO
I report to the charity trustees on my examination of the accounts of The Swivel Club 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
David Robinson FCCA A & S Consultancy 35 Colworth House Colworth Park Sharnbrook Bedford MK44 1LQ
12 October 2022
Page 2
The Swivel Club CIO
Statement of Financial Activities for the Year Ended 31 December 2021
| Year Ended 31.12.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Other trading activities 2 23,729 Other income 3,430 Total 27,159 EXPENDITURE ON Charitable activities Donations Made 7,758 Other 9,046 Total 16,804 NET INCOME 10,355 RECONCILIATION OF FUNDS Total funds brought forward 105,809 TOTAL FUNDS CARRIED FORWARD 116,164 |
Period 19.7.19 to 31.12.20 Total funds £ 26,482 107,922 134,404 17,750 10,845 28,595 105,809 - 105,809 |
|---|---|
The notes form part of these financial statements
Page 3
The Swivel Club CIO
Balance Sheet
31 December 2021
| 31.12.21 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 117,264 CREDITORS Amounts falling due within one year 5 (1,100) NET CURRENT ASSETS 116,164 TOTAL ASSETS LESS CURRENT LIABILITIES 116,164 NET ASSETS 116,164 FUNDS 6 Unrestricted funds 116,164 TOTAL FUNDS 116,164 |
31.12.20 Total funds £ 106,359 (550) 105,809 105,809 105,809 105,809 105,809 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 October 2022 and were signed on its behalf by:
M Waters - Trustee
R Waterfield - Trustee
The notes form part of these financial statements
Page 4
The Swivel Club 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.
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.
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.
Going concern
The financial statements are prepared on a going concern basis, under the historical cost convention and on the assumption that the charity will continue its operations for the foreseeable future.
Although the fund raising activities of the Charity have been severely affected by Covid-19, the assets of the Charity are substantially represented by cash held at bank. The Trustees believe that it is appropriate to prepare the accounts on a going concern basis.
Page 5
continued...
The Swivel Club CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Period | ||
| 19.7.19 | ||
| Year Ended | to | |
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Fundraising events | 80 | 16,755 |
| Shop income | 23,649 | 9,727 |
| 23,729 | 26,482 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the period ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the period ended 31 December 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricte fund £ |
|---|---|
| Other trading activities | 26,482 |
| Other income | 107,922 |
| Total | 134,404 |
| EXPENDITURE ON | |
| Charitable activities | |
| Donations Made | 17,750 |
| Other | 10,845 |
| Total | 28,595 |
| NET INCOME | 105,809 |
| TOTAL FUNDS CARRIED | |
| FORWARD | 105,809 |
Page 6
continued...
The Swivel Club CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 6. MOVEMENT IN FUNDS At 1.1.21 £ Unrestricted funds General fund 105,809 TOTAL FUNDS 105,809 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 27,159 TOTAL FUNDS 27,159 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
31.12.21 £ 1,100 Net movement in funds £ 10,355 10,355 Resources expended £ (16,804) (16,804) Net movement in funds £ 105,809 105,809 |
31.12.20 £ 550 At 31.12.21 £ 116,164 116,164 Movement in funds £ 10,355 10,355 At 31.12.20 £ 105,809 105,809 |
|---|---|---|
Page 7
continued...
The Swivel Club CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 134,404 134,404 |
Resources expended £ (28,595) (28,595) |
Movement in funds £ 105,809 105,809 |
|---|---|---|---|
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 8
The Swivel Club CIO
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |
||
|---|---|---|
| Period | ||
| 19.7.19 | ||
| Year Ended | to | |
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Fundraising events | 80 | 16,755 |
| Shop income | 23,649 | 9,727 |
| Other income | 23,729 | 26,482 |
| Government grant | 3,430 | 10,000 |
| Transferred from old charity | - | 97,922 |
| 3,430 | 107,922 | |
| Total incoming resources | 27,159 | 134,404 |
| EXPENDITURE | ||
| Charitable activities | ||
| Donations | 7,758 | 17,750 |
| Support costs | ||
| Governance costs | ||
| Insurance | 213 | 479 |
| Telephone | 221 | 219 |
| Postage and stationery | 1,148 | 1,020 |
| Sundries | 1,300 | 652 |
| Accountancy and legal fees | 550 | 550 |
| Event costs | 4,289 | 5,070 |
| Advertising | - | 580 |
| Maintenance | 885 | 2,255 |
| Licensing | 440 | 20 |
| 9,046 | 10,845 | |
| Total resources expended | 16,804 | 28,595 |
| Net income | 10,355 | 105,809 |
This page does not form part of the statutory financial statements
Page 9