Charity number: 1185401
RESTORE COLLECTIVE
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021
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RESTORE COLLECTIVE REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY AND ITS TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2021
Trustees
Craig Bird (Chair) Sheryl White Stephen Blyth Andrew Knight
Charity Registered Number
1185401
Principal Operating Address
Fieldview Barn Top Road Barnacle Coventry CV7 9LE
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RESTORE COLLECTIVE STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXEPENDITURE ACCOUNT FOR THE YEAR ENDED 31[ST] MARCH 2021
The Trustees present their annual report together with the financial statements of Restore Collective for the year ended 31[st] March 2021.
Structure, Governance & Management
The legal name of the charity is; Restore Collective.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1185401.
The governing document of the charity is the Trust Deed establishing the charity – this is dated 21 June 2019. The trustees are all individuals.
The Methods Used to Recruit and Appoint Charity Trustees
The minimum number of trustees is 3 and the maximum is 10. At the end of March 2021, the Trust had 4 trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Prospective trustees are usually approached by an individual trustee and then after consultation with all trustees invited to apply, giving full references and outlining their skills, in order to ensure there is a balance on the Board. Appointment is then agreed at a trustees meeting.
Objectives & Activities
The purposes of the charity as set out in its governing document
The main objective of the Trust is "enabling people to thrive" During this period we operated in Atherstone & Mancetter, Bedworth and Hinckley.
In setting our objectives the trustees have carefully considered the Charity Commission ’ s guidance on what constitutes public benefit, any restrictions that are currently in place, and how the charity is benefitting the public through the work of Restore Collective Charitable Trust (previously called Sycamore Tree Trust).
The charity achieves its objectives through three projects within the Trust, each having a specific role and way of fulfilling the overarching aim.
Main activities undertaken in relation to those purposes during the period
A family support project in Atherstone and Mancetter, as well as having a Family Support Worker based in a local primary school, delivering Parenting Support Groups with resources / training from Kids Matter, and delivering Confidence boosting courses for young people with resources called Flourish and Rooted produced by Proton Foundation.
An inspired individual joined the Trust who runs projects / coaching sessions / training courses in Hinckley Leicestershire.
In Bedworth we started a new project due to funding received from The 29th May 1961 Trust over a 3 year period. In partnership with Life Church, we delivered Flourish and Rooted courses as well as delivering Kids Matter groups for parents.
The main activities undertaken during the period to further the charity’s purpose for the public benefit
The public is benefitted by being able to access these services and thus improve their quality of life, either through receiving general support and community or being mentored and assisted in developing positive life skills and resolving immediate issues, being relieved of poverty and being given the opportunity to develop a sustainable income.
The charity Is set up purely to benefit the public, and no-one within the organisation personally gains from the Trust. This is ensured by strict adherence to policies and conflict of interest guidelines
The Trustees have had regard to the Charity Commission ’ s guidance on public benefit in managing the activities of the charity.
The difference the charity’s performance during the period has made to the beneficiaries of the charity and the degree to which the achievements and performance during the period have benefitted wider society
The work we do in in Atherstone and Mancetter (North Warwickshire) continues to thrive. We continue to support a number of families and young people who have been referred to us from schools. We hold monthly events and trips for families in the community. In addition to this, the created “community steering group”, which is made up of volunteers, trustees, local residents, parents and teenagers, and two church partners is
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RESTORE COLLECTIVE
working really well, making decisions together, all giving their ideas and contributions to our activities and events.
Covid-19 (coronavirus) Update
At the time of signing these accounts off, the Coronavirus has impacted the work of the charity. The Trustees have been following and implementing the recommendations and guidance from the UK government (and thereby the chief medical officer and chief scientific officer). All events and activities have had to be delayed until further notice and our volunteer had to come out of the school that she was working in. To try and stay in touch with some families we did weekly food hamper deliveries to homes. See note 8
Financial Review
The Trustees consider the financial performance by the charity to have been satisfactory.
Reserves Policy
The Trustees have drawn up a reserves policy which outlines how the charity manages and monitors reserves. Specifically, this states that each department must set up, monitor and maintain its own budget for the year and then keep costs etc within budgets as strictly as possible.
All the funds of the charity are currently unrestricted, and the use of the funds is at the discretion of the Trustees and subject to the rules established in the charity constitution.
Risk and Going Concern
The board of Trustees is satisfied that the charity’s assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
The Trustees have identified no significant short or medium term financial risks to the charity’s continued operations, and therefore the accounts have been prepared on a going concern basis.
Trustees’ Responsibility Statement
Law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable will continue in operation.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and ensure that the financial statements comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.
For the year ending 31 March 2021 no independent audit was required.
This report was approved by the Trustees on 30 December 2021 and signed on their behalf by:
Craig Bird Chair
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RESTORE COLLECTIVE
| Note INCOME FROM: Donations & Legacies 2 Charitable activities Other trading activities Investment income TOTAL INCOME EXPENDITURE ON: Raising funds Charitable activities 3 Independent Examiner Fees 4 Employee Costs 5 TOTAL Net Income/Expenditure for the period Transfer from The Sycamore Tree Trust NET MOVEMENT IN FUNDS Reconciliation of Funds Total funds brought forward Total funds carried forward |
Unrestricted Funds 2021 £ Restricted Funds 2021 £ Total Funds 2021 £ Total Funds 2020 £ 2,659 - 2,659 1,615 10,770 - 10,770 - - - - - - - - - |
|---|---|
| 13,429 - 13,429 1,615 |
|
| - - - - 6,619 - 6,619 1,827 - - - 5,558 5,558 - |
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| 12,177 - 12,177 1,827 |
|
| 1,252 - 1,252 (212) - - - 810 |
|
| 1,252 - 1,252 598 598 - 598 - |
|
| 1,850 - 1,850 598 |
All activities relate to continuing operations.
The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 7 to 11 form part of these financial statement
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RESTORE COLLECTIVE BALANCE SHEET AS AT 31[ST] MARCH 2021
| Note FIXED ASSETS Tangible Assets Total Tangible Assets CURRENT Debtors 6 Cash at bank and in hand Total current assets CREDITORS: amounts falling due within 1 year NET CURRENT ASSETS NET ASSETS CHARITY FUNDS General Funds 7 Unrestricted Revaluation Reserve 7 TOTAL FUNDS |
Unrestricted Funds 31 March 2021 £ Restricted Funds 31 March 2021 £ Total Funds 31 March 2021 £ Total Funds 31 March 2020 £ - - - - |
|---|---|
| - - - - - - - 95 2,877 - 2,877 503 |
|
| 2,877 - 2,877 598 (1,027) - (1,027) - |
|
| 1,850 - 1,850 598 |
|
| 1,850 - 1,850 598 1,850 - 1,850 598 - - - - |
|
| 1,850 - 1,850 598 |
The ‘SORP’ ref above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward figures above have been agreed to the SOFA.
The Trustees acknowledge their responsibilities for complying with the requirements of charity regulation with respect to accounting records and the preparation of financial statements.
The charity is not subject to Independent Examination under charity legislation.
Craig Bird Chair
Approved by the board of trustees on 30 December 2021
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RESTORE COLLECTIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparation of financial statements
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) published by the Charity Commission in England & Wales (CCEW) ,effective January 2016, (The SORP), and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Risks and future assumptions
The accounts have been prepared on a going concern basis
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Categories of Income
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
Income recognition
Income, whether from exchange or non-exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity's assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Accounting for deferred income and income received in advance
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned, and where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred
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RESTORE COLLECTIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021
ACCOUNTING POLICIES (continued)
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities and is decreased by the utilisation of any provision within the period and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the SORP.
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RESTORE COLLECTIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021
2. INCOME FROM DONATIONS AND LEGACIES
| Small Donations less than £1,000 Gift Aid Church Donations |
Unrestricted Funds 2021 £ Restricted Funds 2021 £ Total Funds 2021 £ Total Funds 2020 £ 2,599 - 2,599 1,615 - - - - 60 - 60 - |
|---|---|
| 2,659 - 2,659 1,615 |
3. EXPENDITURE ON CHARITABLE ACTIVITIES
| Rent & Rates (incl mains supplies) Transport & Travel Donations Charitable Food Charitable Gifts General Administrative Legal & Professional Fees Software/Website Depreciation |
Unrestricted Funds 2021 £ Restricted Funds 2021 £ Total Funds 2021 £ Total Funds 2020 £ - - - - - - - 200 635 - 635 - 1,850 - 1,850 711 2,525 - 2,525 467 1,147 - 1,147 257 - - - 70 462 - 462 122 - - - - |
|---|---|
| 6,619 - 6,619 1,827 |
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RESTORE COLLECTIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021
4. FEES FOR EXAMINATION OF THE ACCOUNTS
| Independent Examiner Fees Tax advisory fee Other fees paid to the independent examiner |
Unrestricted Funds 2021 £ Restricted Funds 2021 £ Total Funds 2021 £ Total Funds 2020 £ - - - - - - - - - - - - |
|---|---|
| - - - - |
5. EMPLOYEE COSTS
| Gross Salaries excl. trustees Employer’s NI Pension Scheme Costs Total salaries, wages & related costs |
2021 £ 2020 £ 5,558 - - - - - |
|---|---|
| 5,558 - |
The company employed an average of 1 staff during the period (2020: n/a).
The Trustees received no remuneration during the period (2020: n/a)
6. DEBTORS
| Trade debtors Other debtors Prepayments and accrued income |
2021 £ 2020 £ - - - - 95 |
|---|---|
| - 95 |
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RESTORE COLLECTIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021
7. STATEMENT OF FUNDS
| Unrestricted Funds General Funds Other Restricted Funds Total Funds |
Brought forward Income Expense Transfers in/out Gains / (losses) Carried forward £ £ £ £ £ £ 598 13,429 (12,177) - - 1,850 - - - - - - |
|---|---|
| 598 13,429 (12,177) - - 1,850 - - - - - - |
|
| - - - - - - |
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| 598 13,429 (12,177) - - 1,850 |
General Funds
These funds are held for meeting the objectives of the charity and to provide reserves for future activities and, subject to charity legislation, are free from all restrictions on their use
Restricted Funds
The charity currently holds no restricted funds
8. NON-ADJUSTING BALANCE SHEET EVENT
Due to the Coronavirus pandemic Restore Collective had to delay activities and events which will have an impact on the 2021-22 financial period. At time of reviewing the 2020-21 accounts the Trustees have reviewed the accounts and funds of the charity to ensure that there are sufficient assets and cashflow to allow the charity to continue operation.
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