CHARITY REGISTRATION NUMBER: 1185333
VISION25 Unaudited Financial Statements
31 May 2021
S J ACCOUNTING SERVICES (NE) LTD
Newtown Community Resource Centre Durham Road Stockton on Tees TS19 0DE
VISION25
Financial Statements
Year ended 31 May 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 15 |
| Statement of financial activities | 16 |
| Statement of financial position | 17 |
| Notes to the financial statements | 18 |
VISION25
Trustees' Annual Report
Year ended 31 May 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2021.
| REFERENCE AND ADMINISTRATIVE DETAILS | REFERENCE AND ADMINISTRATIVE DETAILS | |
|---|---|---|
| Registered Charity Name | VISION25 | |
| Charity Registration Number | 1185333 | |
| Principal Office | Ground Floor Richard House | |
| Sorbonne Close | ||
| Teasdale Business Park | ||
| Stockton on Tees | ||
| TS17 6DA | ||
| The Trustees | ||
| G Williams | (Appointed 14 September 2020) | |
| T Dooley | ||
| J Langford | ||
| Independent Examiner | SJ Accounting Service (NE) Ltd | |
| Newtown Community Resource | Centre | |
| Durham Road | ||
| Stockton on Tees | ||
| TS19 0DE |
Structure, Governance And Management
Vision25 is a Charitable Incorporated Organisation (CIO), incorporated on 12th September 2019 and is governed by its constitution which was adapted on 16th September 2019.
Objectives And Activities
The object(s) of the CIO are
To advance in life and help disabled young people living in the North East of England through: a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;
b) providing support and activities which develop their skills, capacities, and capabilities to enable them to participate in society as mature and responsible individuals.
1
VISION25
Trustees' Annual Report
Year ended 31 May 2021
We didn’t like the pandemic. We used hands, face, space, got tested a lot and did a lot of cleaning every day!!
2
VISION25
Trustees' Annual Report
Year ended 31 May 2021
ACHIEVEMENTS & PERFORMANCE
Keeping our young people safe during a pandemic
As per our previous report, our facility was closed on March 23[rd] 2020 due to the pandemic. Our young people struggled with the lockdown so as of May 2020, we opened our doors to offer much needed respite to our young adults and their families. We followed the strict Covid-19 guidelines with a deep clean every morning, hand washing upon arrival, we stopped every hour for the young people to clean their work area and wash hands. Everyone had their temperature taken upon arrival.
We initially opened three days per week, 10 until 1 pm to and the young people brought a packed lunch so that kitchen equipment was not being shared. We couldn’t operate as we usually would so the young adults work placements were suspended and our shop and upcycle workshops closed. We increased the days/times gradually over the following months and eventually made our way back to full time. We asked the families to reduce their days with us so that we could keep to the social distancing rules. Despite the pandemic, we tried our very best to keep stability and familiarity for our young people. We had a visit from a few new potential new service users and their families. We restarted our parents craft class as we felt they too needed some well-deserved enjoyment in their lives after a very difficult time with lock down. In November we found a new property which we were interested in renting. It’s a huge double fronted shop on Stockton High Street. December came…..
We enjoyed making our usual Christmas enterprise products and tried to get back to some normality even though the case rate of new Covid cases were rising and the death rate was rising exponentially.
3
VISION25
Trustees' Annual Report
Year ended 31 May 2021
Oh January…….
When January arrived, we were faced with lockdown number 3, which was hard on us all. We closed our doors again and were extremely sad for the young people. We decided to set up local walks which were led by our staff team in the surrounding areas of Stockton. Parents dropped off their son/daughter and we walked for 2 hours which gave them a chance to see each other, albeit from a distance. Parents then collected. It meant a lot to the group and helped keep them positive in a world they did not understand. All they wanted was to see their friends.
Our very own test centre on our premises
Halfway through January we got an email from Public Health England asking if we would like to have lateral flow testing on our site which we welcomed with open arms. This meant that we could get our young people back into the service and keep them safe despite another lockdown.
Our CEO Jen met with Public Health via zoom so discuss our very own test center.
We set about getting the whole staff team trained up and changing our centre to accommodate this. We asked the parents to bring the young adults for a visit so they could see and accept the changes and gave them a swab to practice at home. We made a small home-made video of someone’s nose being swabbed and sent it all parents to share with their son/daughter, so they knew what to expect.
4
VISION25
Trustees' Annual Report
Year ended 31 May 2021
We started our testing which has been a total success with only one positive result from a young person who was asymptomatic.
They isolated for ten days with their family and then returned. Thanks to PPE no other person, staff or young adults tested positive.
March 2021 - welcomed back performing arts as long as tested and enjoyed making gifts for our mothers.
5
VISION25
Trustees' Annual Report
Year ended 31 May 2021
11[th] March – Paul one of our managers launched a fundraising appeal for his marathon.
Why can’t our vulnerable young adults be vaccinated?
We were upset by a recent public health report that stated that people with learning disabilities were 6 times more likely to die from Covid than any other. (https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_da ta/file/933612/COVID-19__learning_disabilities_mortality_report.pdf) We are urgently trying to get them vaccinated but no luck until there was a lot of social media publicity from the Radio 2 DJ, Jo Whiley about her sister who lives with Downs Syndrome who had taken ill with Covid which resulted in the Government making a U-turn and putting people with a learning disability to the top of the priority list, which was a huge relief. https://www.theguardian.com/society/2021/mar/19/jo-whiley-sister-frances-to-get-jab-amonth-after-having-covid
JO WHILEY'S SISTER FRANCES TO GET JAB A MONTH AFTER HAVING COVID
Radio 2 DJ, who has campaigned for people with learning disability to be prioritised, says she ‘couldn’t be happier’
6
VISION25
Trustees' Annual Report
Year ended 31 May 2021
DJ Jo Whiley with her sister Frances. Photograph: Clive Limpkin/Daily Mail/Rex/Shutterstock
Amelia Hill @byameliahill Fri 19 Mar 2021 14.04 GMT
The radio DJ Jo Whiley’s sister is to receive her first Covid-19 vaccination, a month after contracting the disease and almost dying from it.
Whiley said she “couldn’t be happier” that her sister Frances, 53, who has a learning disability and diabetes, will receive her vaccine this weekend.
By the end of March 2021, almost all of our young people have had the first vaccine – now that’s a result! Thanks Jo xx
28[th] March - we did a collaboration with Northern school of art. Our young adults judged an art competition, and the winners are making postcards that will be sold in our new shop.
7
VISION25
Trustees' Annual Report
Year ended 31 May 2021
April 2021
Yipeeeeee, Mam’s class is back
8
VISION25
Trustees' Annual Report
Year ended 31 May 2021
She’s finished her apprenticeship!!
12[th] April – our apprentice Daniella finally finished her studies and became a member of staff with a real contract! Well done young lady – we are all so proud of you.
Other news for April…….
We’ve been offered another residential via the Cohen fund through tees Valley Community foundation! We’ll be attending Peat Rigg Outdoor Centre this year, all being well with the lifting of the restrictions. Cannot wait!!!
We’ve started a crowd funder page to raise money for our new premises on the high Street. We have had a professional video made to get the word out to raise much needed donations.
Our Head of Terms has been prepared for the solicitor, so we are hoping to sign our lease in the next 12 weeks!!
9
VISION25
Trustees' Annual Report
Year ended 31 May 2021
- May 2021 We were in the Gazette and on Teesside Live, much needed publicity for our fundraising cause.
11[th] May – UK PODS – We collaborated with UK Pods who design and manufacture Safety Pods for many industries. They have offered to keep and deliver all excess material so we can upcycle and create something new with is. We are very excited that they chose us.
10
VISION25
Trustees' Annual Report
Year ended 31 May 2021
Along came June……………..
More publicity for our fundraising cause
16[th] June our appeal reaches the pages of the Northern Echo
On the radio 4[th] June – Amy Oakden came to interview us. Our story was aired on the radio which thrilled our young adults who were interviewed.
11
VISION25
Trustees' Annual Report
Year ended 31 May 2021
In June we finally ventured out to the town.
We continue to strive towards moving premises and still await our lease. We have a few fundraising bids started and have applied for many grants and still await approval. Our ambition is to move to the double fronted facility on Stockton high Street this year. Once in, we will renovate the ground floor to enable our day services to operate from there. We will also have a refurbished gift shop and bistro at the front where our young adults will work to gain valuable work experience. The front of house will be set up as a CIC which will be owed by the charity.
12
VISION25 Trustees. Annual Report Year ended 31 May 2021 1111 11 13
VISION25
Trustees' Annual Report (continued)
Year ended 31 May 2021
Financial review
The results for the period are reflected in the Statement of Financial Activities in the accounts. The accounts for the year show a surplus of £50,772.
The reserves stand at £81,714, £59,264 being unrestricted funds with free reserves of £59,264.
Reserves Policy
The trustee’s aim is to expend all funds on their charitable objects; however, they recognise the need to maintain a certain level of reserves as a cushion against possible future difficulties. Free reserves at the level of 6 months running costs would allow the charity to continue its operations while alternative funding sources were sought.
The trustees' annual report was approved on 21[st] June 2021 and signed on behalf of the board of trustees by:
TL Dooley Trustee
J Langford Trustee
14
VISION25
Independent Examiner's Report to the Trustees of VISION25
Year ended 31 May 2021
I report to the trustees on my examination of the financial statements of VISION25 ('the charity') for the year ended 31 May 2021.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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 charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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.
SJ Accounting Service (NE) Ltd Independent Examiner Newtown Community Resource Centre Durham Road Stockton on Tees TS19 0DE
15
VISION25
Statement of Financial Activities
Year ended 31 May 2021
| Period from | |||||
|---|---|---|---|---|---|
| 16 Sep 19 to | |||||
| Year | to 31 May 21 | 31 May 20 | |||
| Unrestricted | Restricted | ||||
| funds | fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 21,842 | 25,950 | 47,792 | 39,328 |
| Charitable activities | 5 | 251,443 | – | 251,443 | 44,941 |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total income | 273,285 | 25,950 | 299,235 | 84,269 | |
| ================================ | ============================ | ================================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 236,297 | 12,166 | 248,463 | 53,327 |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total expenditure | 236,297 | 12,166 | 248,463 | 53,327 | |
| ================================ | ============================ | ================================ | ============================ | ||
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Net income and net movement in | funds | 36,988 | 13,784 | 50,772 | 30,942 |
| ================================ | ============================ | ================================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 22,276 | 8,666 | 30,942 | – | |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total funds carried forward | 59,264 | 22,450 | 81,714 | 30,942 | |
| ================================ | ============================ | ================================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 18 to 26 form part of these financial statements.
16
VISION25
Statement of Financial Position
31 May 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 3,913 | 4,957 |
| Current assets | |||
| Cash at bank and in hand | 96,870 | 37,205 | |
| Creditors: amounts falling due within one year | 13 | 19,069 | 11,220 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 77,801 | 25,985 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 81,714 | 30,942 | |
| ---------------------------- | ---------------------------- | ||
| Net assets | 81,714 | 30,942 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Restricted funds | 22,450 | 8,666 | |
| Unrestricted funds | 59,264 | 22,276 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 15 | 81,714 | 30,942 |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 21[st] August 2021, and are signed on behalf of the board by:
T Dooley Trustee
J Langford Trustee
The notes on pages 18 to 26 form part of these financial statements.
17
VISION25
Notes to the Financial Statements
Year ended 31 May 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Ground Floor Richard House, Sorbonne Close, Teasdale Business Park, Stockton on Tees, TS17 6DA.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
18
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
19
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 20% straight line Equipment - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
20
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 17,470 | – | 17,470 |
21
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Grants | |||||
| Catalyst Funding | – | – | – | ||
| True Colours | – | – | – | ||
| Woodward Trust | – | – | – | ||
| JRS Grant | 4,372 | – | 4,372 | ||
| Skipton Charitable Foundation | – | – | – | ||
| Tees Valley Community Foundation | – | 500 | 500 | ||
| Jack Brunton Charitable Trust | – | 10,000 | 10,000 | ||
| RSA Community Grant | – | 2,000 | 2,000 | ||
| National Lottery | – | 12,450 | 12,450 | ||
| British Land Covid Grant | – | 1,000 | 1,000 | ||
| ---------------------------- | ---------------------------- | ---------------------------- | |||
| 21,842 | 25,950 | 47,792 | |||
| ============================ | ============================ | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 29,205 | – | 29,205 | ||
| Grants | |||||
| Catalyst Funding | – | 1,166 | 1,166 | ||
| True Colours | – | 5,000 | 5,000 | ||
| Woodward Trust | – | 1,000 | 1,000 | ||
| JRS Grant | 1,457 | – | 1,457 | ||
| Skipton Charitable Foundation | – | 1,500 | 1,500 | ||
| Tees Valley Community Foundation | – | – | – | ||
| Jack Brunton Charitable Trust | – | – | – | ||
| RSA Community Grant | – | – | – | ||
| National Lottery | – | – | – | ||
| British Land Covid Grant | – | – | – | ||
| ---------------------------- | ----------------------- | ---------------------------- | |||
| 30,662 | 8,666 | 39,328 | |||
| ============================ | ======================= | ============================ | |||
| 5. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Sale of goods/services as part of | |||||
| direct charitable activities | 251,443 | 251,443 | 43,147 | 43,147 | |
| Other income from charitable activities | – | – | 1,794 | 1,794 | |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | ||
| 251,443 | 251,443 | 44,941 | 44,941 | ||
| ================================ | ================================ | ============================ | ============================ |
22
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
6. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Activity type 1 | 223,955 | 12,166 | 236,121 | ||
| Support costs | 12,342 | – | 12,342 | ||
| -------------------------------- | ---------------------------- | -------------------------------- | |||
| 236,297 | 12,166 | 248,463 | |||
| ================================ | ============================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Activity type 1 | 53,327 | – | 53,327 | ||
| Support costs | – | – | – | ||
| ---------------------------- | -------------- | ---------------------------- | |||
| 53,327 | – | 53,327 | |||
| ============================ | ============== | ============================ | |||
| 7. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Activity type 1 | 236,121 | – | 236,121 | 53,327 | |
| Governance costs | – | 12,342 | 12,342 | – | |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| 236,121 | 12,342 | 248,463 | 53,327 | ||
| ================================ | ============================ | ================================ | ============================ | ||
| 8. | Net income | ||||
| Net income is stated after charging/(crediting): | |||||
| 2021 | 2020 |
||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 1,044 | 261 | |||
| ======================= | ============== | ||||
| 9. | Independent examination fees | ||||
| Period from | |||||
| Year to | 16 Sep 19 to | ||||
| 31 May 21 | 31 May 20 |
||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 700 | 700 | |||
| ============== | ============== |
23
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Period from | ||
|---|---|---|
| Year to | 16 Sep 19 to | |
| 31 May 21 | 31 May 20 | |
| £ | £ | |
| Wages and salaries | 193,440 | 45,928 |
| Social security costs | 7,628 | 3,000 |
| Employer contributions to pension plans | 3,040 | 780 |
| -------------------------------- | ---------------------------- | |
| 204,108 | 49,708 | |
| ================================ | ============================ |
The average head count of employees during the year was 16 (2020: 13).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
11. Trustee remuneration and expenses
- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or
12. Tangible fixed assets
| Fixtures and | |||
|---|---|---|---|
| fittings | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 June 2020 and 31 May 2021 | 1,354 | 3,864 | 5,218 |
| ======================= | ======================= | ======================= | |
| Depreciation | |||
| At 1 June 2020 | 68 | 193 | 261 |
| Charge for the year | 271 | 773 | 1,044 |
| ----------------------- | ----------------------- | ----------------------- | |
| At 31 May 2021 | 339 | 966 | 1,305 |
| ======================= | ======================= | ======================= | |
| Carrying amount | |||
| At 31 May 2021 | 1,015 | 2,898 | 3,913 |
| ======================= | ======================= | ======================= | |
| At 31 May 2020 | 1,286 | 3,671 | 4,957 |
| ======================= | ======================= | ======================= | |
| Creditors: amounts falling due within one year | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Trade creditors | 50 | (157) | |
| Accruals and deferred income | 700 | 700 | |
| Social security and other taxes | 1,902 | – | |
| Other creditors - desc in a/cs | 15,780 | 10,150 | |
| Other creditors 2 - desc in a/cs | 637 | 527 | |
| ---------------------------- | ---------------------------- | ||
| 19,069 | 11,220 | ||
| ============================ | ============================ |
13. Creditors: amounts falling due within one year
24
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
14. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,040 (2020: £780).
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | June 2020 | Income | Expenditure | 31 May 2021 | |
| £ | £ | £ | £ | ||
| General funds | 22,276 | 273,285 | (236,297) | 59,264 |
|
| ============================ | ================================ | ================================ | ============================ | ||
| At | |||||
| 16 | Septembe | At | |||
| r 2019 | Income | Expenditure | 31 May 2020 | ||
| £ | £ | £ | £ | ||
| General funds | – | 75,603 | (53,327) | 22,276 |
|
| ============== | ============================ | ============================ | ============================ |
25
VISION25
Notes to the Financial Statements (continued)
Year ended 31 May 2021
15. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 June 2020 | Income | Expenditure | 31 May 2021 | |
| £ | £ | £ | £ | |
| Catalyst Funding | 1,166 | – | (1,166) | – |
| True Colours | 5,000 | – | (5,000) | – |
| Woodward Trust | 1,000 | – | (1,000) | – |
| Skipton Charitable Foundation | 1,500 | – | (1,500) | – |
| Tees Valley Community Foundation | – | 500 | (500) | – |
| Jack Brunton Charitable Trust | – | 10,000 | – | 10,000 |
| RSA Community Grant | – | 2,000 | (2,000) | – |
| National Lottery | – | 12,450 | – | 12,450 |
| British Land Covid Grant | – | 1,000 | (1,000) | – |
| ----------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 8,666 | 25,950 | (12,166) | 22,450 |
|
| ======================= | ============================ | ============================ | ============================ | |
| At | ||||
| 16 Septembe | At | |||
| r 2019 | Income | Expenditure | 31 May 2020 | |
| £ | £ | £ | £ | |
| Catalyst Funding | – | 1,166 | – | 1,166 |
| True Colours | – | 5,000 | – | 5,000 |
| Woodward Trust | – | 1,000 | – | 1,000 |
| Skipton Charitable Foundation | – | 1,500 | – | 1,500 |
| Tees Valley Community Foundation | – | – | – | – |
| Jack Brunton Charitable Trust | – | – | – | – |
| RSA Community Grant | – | – | – | – |
| National Lottery | – | – | – | – |
| British Land Covid Grant | – | – | – | – |
| -------------- | ----------------------- | -------------- | ----------------------- | |
| – | 8,666 | – | 8,666 | |
| ============== | ======================= | ============== | ======================= | |
| Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 3,913 | – | 3,913 | |
| Current assets | 55,351 | 22,450 | 77,801 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net assets | 59,264 | 22,450 | 81,714 | |
| ============================ | ============================ | ============================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 4,957 | – | 4,957 | |
| Current assets | 17,319 | 8,666 | 25,985 | |
| ---------------------------- | ----------------------- | ---------------------------- | ||
| Net assets | 22,276 | 8,666 | 30,942 | |
| ============================ | ======================= | ============================ |
16. Analysis of net assets between funds
26