Report and Financial Statements
For the period from 22 November 2019 to 31 December 2020 Registered Charity Number: 1186520
The Hollow Lane Club CIO
Year ended 31 December 2020
| Contents | Page |
|---|---|
| Report of the Trustees | 3 |
| Independent Examiner’s Report to the Trustees | 11 |
| Statement of Financial Activities (SOFA) | 12 |
| Balance Sheet | 13 |
| Notes forming part of the financial statements | 14 |
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
The Trustees are pleased to present their report and financial statements for the period from registration on 22 November 2019 through to 31 December 2020. The activities of the old charity (no. 1102630) were transferred to the CIO with effect from 31 October 2020. As such these financial statements reflect the transfer of the funds of the old charity as at 31 October and 2 months trading as the CIO. The CIO did not trade prior to 31 October 2020. A proforma statement of financial activities for the old charity, for the period since it last prepared financial statements through to the transfer to the CIO, is shown in note 14. The old charity has now been re-registered.
The financial statements comply with the Charities Act 2011, the terms of the Trust as described below 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).
1. Objectives, Activities and Public Benefit
The charity’s objectives are to:
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provide the necessary facilities for the daily care, recreation and education of children with disabilities and their siblings during after school hours and school holidays; and
-
advance the education and training of the persons in the provisions of such care, education and recreational facilities.
The Trustees confirm that they have taken into account the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
2. Achievements and Performance
The Hollow Lane Club CIO is dedicated to enhancing the lives of children and young people with additional needs and their families. The Club provides fun, engaging and inclusive out of school activities for young people and their siblings at weekends, after school hours and during the school holidays, across three locations in Devon. The club is an Ofsted recognised ‘Outstanding’ provider.
This is truly a year to celebrate Achievements made through one of the hardest years in living memory. The COVID-19 Pandemic hit the country and we were all asked to stay at home the day we had hoped to interview prospective CEOs in March 2020. Our AGM a week later was held via zoom, the first of many such trustee and team meetings throughout the year.
We are proud to say that at this point, a year later, the charity is in a strong position and has made it through this year, and we are aware of how fortunate we are to be in that position. Our major funders continued to support us and we continue to receive funds applied for from other donors.
Special mention must be made to the team who run the Hollow Lane Club. The rules of the lockdown and risk assessments in place with the schools we work with meant we were not able to run any face to face groups during the year. However, our team were determined that our
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
children and young people still had a provision from the club. With little prior experience, they curated, filmed and uploaded an on-line, timetabled, three week summer programme for any children or young people in Devon to access. They invited many of our usual entertainers, from dancing, to animals, to painting, to present their work over Zoom. They sent out packs of resources for the children and young people to use in the sessions and also care packages to their parents and carers.
No family paid towards this ‘summer club’ on-line and it is still available for anyone to watch and enjoy on our Facebook page. The online summer club was funded by The Big Lottery Fund and the BBC Children In Need Fund. Since then the Team have continued with Saturday Zoom Clubs of Meet the Animal and other entertainers, chosen by our young people. Evening Parents Meet Ups have been attended by parents from across Devon and run by our Club Managers.
Meanwhile the trustee board has changed. Jacqui Warne, one of the founders of the club, retired as trustee after over twenty years of service to our children and families. We thank Jacqui for hearing the needs of those families all those years ago, asking Mary to set up the club, and ensuring its survival to now. The importance of the club to all who use it has not diminished in those twenty-plus years and we are working to ensure the club is always there for them.
Gary and Sarah Woolfries stepped down after dedicated service to the charity and we take this moment to thank them for the hard work they put into the Hollow Lane Club. We would not be where we are today without them.
Daisy Binnie and Nikki Burroughs took on the role of Co-Chair and are pleased to welcome a new trustee to the table Mr Simon Winward.
Trustees would like to thank the funders who have shown considerable support and understanding throughout this year. Despite the challenges, they have continued to provide funding, ensuring we are ready when we can open our doors again.
We reported last year that the Club has secured funding from the National Lottery Community Fund over a 5 year period, subject to annual reporting against attainment of our agreed deliverables, and we are now in our third year of that grant. We were also awarded a 3 year grant, on similar reporting terms, by the BBC’s Children in Need scheme and have now completed year 3. Securing funding over a longer period of time has meant the Trustees and staff has been able to plan the roll out of the next phase of our 5 year development plan to take the club forward, ensuring it meets the needs of the increasing number of families that depend upon it. However, due to Covid-19 restrictions this year, we have had to re-purpose our funds to cover an online summer club provision and other costs.
As part of securing the National Lottery funding, we were provided with an additional allocation of funds specifically to help The Hollow Lane Club CIO build its capabilities and capacity in order to deliver even more effective and sustainable services to our beneficiaries.
All organisations that receive this funding to build their capabilities and future capacity must carry out an ‘Organisational Strengths Review’ to help identify their strengths and any potential
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
areas for improvement. The review needed to look at our all-round development needs, to help us decide what our priorities should be and where we would benefit most from advice and help.
We therefore engaged an external party, who had vast experience in this area, to carry out our review and to help the Trustees and Management team think objectively about our strengths and areas for development. This review sought input via surveys from parents/carers of the children and young people attending the club, as well as staff at the club, to ensure their views were listened to in how the future of the club is shaped and driven. The final report was delivered last year and the Trustees and Management team are actively working on next steps as a result.
All places at The Hollow Lane Club CIO are heavily subsidised by grant funding to ensure we can offer our services to all and that cost is not a barrier to access. We also recognise our staff costs are high, but necessary, for delivery of our programme of activities. The greatest expenditure in our budget is staffing, because our programme requires a high ratio of specialist play workers to children/young people due to the nature of their disabilities. The Trustees recognise that in addition to having the support of the above mentioned major funders, we need to identify additional sources of funding on an ongoing basis to ensure we are not overly reliant on a small number of supporters. The Trustees are therefore pleased to report that we have successfully secured funding during this reporting period from:
The Big Lottery Fund BBC Children In Need St James’ Place Claire Milne Trust Boshier-Hinton Foundation DCC Small Grants Scheme The True Colours Trust Three Monkies Trust The Ashfords Foundation The 29[th] May 1961 Charitable Trust Garfield Weston Foundation The Grant Foundation DCC Covid-19 Funding response
The Hollow Lane Club CIO would like to record its grateful thanks to all the above who provided funding and support to the charity over the last year. We do keep all our recent and current funders updated with written reports on what we have achieved with their donations, and with the progress of the club in general.
The Trustees and families of children and young people attending The Hollow Lane Club CIO recognise that a key factor in the Club’s continuing success is the dedication and commitment of the General Manager and staff. Their expertise and knowledge ensure that the sessions are planned and run effectively, not only to meet the needs of those that attend, but to provide positive and lasting experiences that they might not otherwise have.
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
3. Financial Review
The net income for the period is £109,655. This is after transfers in from the previous charity of £114,803. Further details are shown in the Statement of Financial Activities on page 12.
The charity has restricted funds at 31 December 2020 of £Nil and unrestricted funds of £109,655 which include designations of £10,000 each in respect of the Employment Commitment Fund and the Development Fund (see note 10).
Reserves
The charity’s free reserves at 31 December 2020 are £97,839 (note 12), and the Trustees’ target level of free reserves is £70,000.
The Trustees recognise the particular vulnerability of the children and young people who attend The Hollow Lane Club CIO and the value their families place on the service. The Trustees’ policy is for the charity to have free reserves of six months’ operating costs plus the costs of running the next Summer Club to cover eventualities such as short term cash flow problems, or the sudden loss of a funding source, and to ensure that the Charity can continue to run efficiently and maintain its programme of activities.
The Trustees actively monitor the Charity's free reserves and continue to focus on increasing the level of these reserves whenever circumstances allow.
Risk Management
The Trustees have identified any major risks facing the Charity and taken such steps as they can to mitigate them.
COVID-19
The measures to mitigate the spread of the Coronavirus Covid-19 have led to the suspension of all activities of The Hollow Lane Club CIO at our 3 sites, however we are continuing to engage with the children and young people who would normally attend the clubs as best we can by using our dedicated social media. At the time of writing it is unclear for how long this suspension will last. All children and young people that had bookings with us during the period of suspension have been allocated a refund or a rescheduled club session when the Charity can safely operate again. The Charity has made use of, or are in the process of applying to, the various Government, local authority and dedicated Covid-19 grant funding schemes designed to support small businesses and charities through this difficult time. The Trustees are satisfied that The Hollow Lane Club CIO remains a going concern
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
4. Evaluation
The Hollow Lane Club CIO is very much user led, with the voices of parents/carers and children and young people who attend the Club at the heart of everything we do. We have excellent relationships with the families that use the service. We know the children/young people’s needs well, we have built trust with families and delivered a secure, reliable service. We understand that for our families the clubs need to be accessible and affordable – many families could not pay the fees demanded by some other local providers.
The Club undertakes annual evaluations in September each year, to gather feedback from families, carers and staff on the last year’s sessions. This allows the Club to effectively measure outcomes and ensure we are meeting our stated aims, both for the children and young people that attend and also their families. This feedback additionally helps us review our provision and develop plans for the future which meet the needs of those the Club serves, in line with our charitable objectives. Further, it allows us to keep our funding partners updated on how effective their support has been and what their funding has allowed us to achieve.
The Club offers places to individuals whose complex needs and behaviour can make it hard for them to be able to access facilities in their local communities. The services offered by the Club also have wider benefits for the community, both by providing valuable respite to families who are already under additional pressure and because our provision has positive benefits on the quality of life of those living with and supporting children and young people with additional needs.
Recognising the above, the Charity has a number of key measurable outcomes we want to achieve:
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Improved social opportunity: children and young people have spent quality time with their friends as well as meeting new people, helping to overcome social isolation and gain quality of life experiences.
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Children and young people were facilitated to make choices regarding what social and leisure activities are important to them.
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Improved self-esteem: from interacting with others and engaging in new and challenging experiences.
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Improved confidence gained by positive experiences and having fun.
-
Improved wellbeing.
-
Improved social skills.
-
Achievement of new practical skills and sense of achievement.
-
Respite for families and carers.
We work with staff that are trained in advocacy, with the skills to engage children in communicating their likes and dislikes and, in choice making.
The children have kept club scrapbooks, artwork and diaries where able. These have recorded what activities they have most enjoyed, their experiences, feelings and what they have achieved. These have been combined with the above mentioned parent and staff feedback to inform us of the benefits and impact of the programme of activities and to plan future work.
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
5. Plans for the Future
Following the COVID-19 pandemic, our first priority is to re-open the existing clubs as soon as it is deemed safe to do so. The next phase of the club’s plan is to build up the Siblings Club and start a Youth club at Dartington, and we hope to be able to report on successful implementation in next year’s Trustees report.
We are also working on several initiatives and developments based on the outcome of our Organisational Strengths Review, including upgrading our accounting and other management systems, implementing the recruitment process for a new CEO and upskilling staff. We started the recruitment process for the CEO position but due to COVID-19 restrictions the CEO Recruitment was paused in March 2020 and resumed in Autumn 2020. We expect to have a CEO in place in Spring 2021.
6. Structure, Governance and Management
The Hollow Lane Club CIO is an incorporated charitable association, registered 22 November 2019.
The Club is run by a small staff team and a Board of Trustees. The Board (Executive Committee) consists of no less than three and no more than eight Trustees. Trustees are elected and reappointed to the Executive Committee at the Annual General Meeting. The current Board includes a committee of three Trustees, who oversee the workings of the club. Between them, the Trustees have a good range of both personal experience and professional expertise which contributes to the smooth running of the club, including management of large projects, budgeting and finance. Trustees are recruiting a range of new trustees to the board, to expand on the skills in the board and ensure smooth running of the club.
A CEO is expected to be in post in Spring 2021. This is a new role for the charity and we are looking forward to working with a CEO who will bring extra skills and experience to the board and ensure the smooth running of the Charity and reach its objectives.
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
7. Reference and administrative details
Name: Charity Number:
The Hollow Lane Club CIO 1186520
Principal Office C/o Ellen Tinkham School Hollow Lane Exeter EX1 3RW
Trustees Ms N Burroughs Mr S Winward Ms D Binnie
Principal Bankers Lloyds Bank plc 234 High Street Exeter EX4 3NL
Independent Examiner Neil Hitchings FCA Francis Clark LLP Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE
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The Hollow Lane Club CIO
Report of the Trustees
Period ended 31 December 2020
8. Trustees’ Responsibilities in relation to the financial statements
The charity Trustees are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In preparing the financial statements, the trustees are required to:-
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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 estimates that are reasonable and prudent;
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state whether applicable UK accounting standards 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 charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Ms D Binnie for and on behalf of the Trustees Date: 23 April 2021
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The Hollow Lane Club CIO
Independent Examiner’s Report to the Trustees
Period from 22 November 2019 to 31 December 2020
I report to the trustees on my examination of the accounts of The Hollow Lane Club CIO for the period ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the charity 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 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 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Neil Hitchings FCA Francis Clark LLP Chartered Accountants Centenary House Peninsula Park Rydon Lane EXETER EX2 7XE
Dated 28 April 2021
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The Hollow Lane Club CIO
Statement of Financial Activities (SOFA)
Period from 22 November 2019 to 31 December 2020
| Unrestricted | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| Notes | Funds | Funds | 2020 | |
| £ | £ | £ | ||
| Income from: | ||||
| Donations and legacies | 2 | 10,977 | - | 10,977 |
| Charitable activities | 3 | 10,500 | 2,399 | 12,899 |
| Other income - transfer of assets from ‘old’ charity (*) | 99,509 | 15,294 | 114,803 | |
| ––––––– | ––––––– | ––––––– | ||
| Total | 120,986 | 17,693 | 138,679 | |
| ––––––– | ––––––– | ––––––– | ||
| Expenditure | ||||
| Charitable activities | 4a | 11,853 | 14,723 | 26,576 |
| Raising Funds | 4b | 2,448 | - | 2,448 |
| ––––––– | ––––––– | ––––––– | ||
| Total | 14,301 | 14,723 | 29,024 | |
| ––––––– | ––––––– | ––––––– | ||
| Net income/(expenditure) and net | 106,685 | 2,970 | 109,655 | |
| movement in funds for the year before transfers | ||||
| Transfers between funds | 2,970 | (2,970) | - |
|
| ––––––– | ––––––– | –––––– | ||
| Total funds at 31 December 2020 | 109,655 | - | 109,655 | |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
(*) On the 1 November 2020 The Hollow Lane Club transferred all assets and liabilities to newly incorporated CIO with the same name. The net assets at the date of the transfer were £114,803, of which £15,294 were restricted.
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The Hollow Lane Club CIO
Balance Sheet
As at 31 December 2020
| 31 December | ||
|---|---|---|
| 2020 | ||
| Notes | £ | |
| Fixed assets | ||
| Tangible assets | 6 | 1,816 |
| Current assets | ||
| Debtors | 7 | - |
| Cash at bank and in hand | 8 | 176,685 |
| –––––– | ||
| 176,685 | ||
| Current liabilities | ||
| Creditors: amounts falling due within | ||
| one year | 9 | ( 68,846) |
| ––––––– | ||
| Net current assets | 107,839 | |
| ––––––– | ||
| Net assets | 109,655 | |
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||
| Funds | ||
| Restricted Funds | 11 | - |
| Unrestricted funds | ||
| General fund | 99,655 | |
| Designated Funds | 10 | 10,000 |
| ––––––– | ||
| Total charity funds | 109,655 | |
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Approved by the Board of Trustees on 23 April 2021 and signed on its behalf by
Ms D Binnie Trustee
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The Hollow Lane Club CIO
Notes forming part of the financial statements
Period from 22 November 2019 to 31 December 2020
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a. General information
Reference and administrative details of the charity can be found on page 9.
b. Basis of preparation
The financial statements have been prepared in accordance with 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)) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn.
The Hollow Lane Club CIO meets the definition of a public benefit entity under FRS 102.
The Trustees have considered the impact of COVID-19, taking into account available grant support from the government in the form of Coronavirus Job Retention Scheme. They believe there are no material uncertainties over the charity’s activities being able to continue for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.
The functional currency of the charity is considered to be pounds sterling because it is the currency of the primary economic environment in which the charity operates.
The financial statements include the transactions, assets and liabilities of these accounts.
c. Disclosure of long or short period
The accounts have been prepared for the period from 22 November 2019 to 31 December which represents the period from registration to an accounting period end chosen to align with the ‘old’ charity year end.
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The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 to 31 December 2020
d. Income
All income is recognised when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Donations and legacies are recognised when receivable.
Income from investments is included in the year in which it is receivable.
Income from Charitable Activities where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
e. Expenditure
Expenditure is recorded on an accruals basis and has been classified under headings which aggregate all costs related to that category.
-
Charitable expenditure comprises those costs incurred by the charity in order to meet its charitable activities.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
f. Fixed Assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.
g. Depreciation
Assets are depreciated over their estimated useful lives as follows:-
Fixtures and equipment - 33.3% straight line
h. Value Added Tax
The trust is not registered for Value Added Tax (VAT). Expenditure in these financial statements therefore includes VAT payable where appropriate.
i. Funds
Restricted funds are created when third party grants are made a particular area or purpose. Designated funds are those funds earmarked by the trustees for a specific purpose. Unrestricted funds represent monies available for general charitable purposes.
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The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 31 December 2020
2. Donations and legacies
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Government Grants | 10,977 | - | 10,977 |
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Voluntary income relates to funds received from government’s Cornonavirus job retention scheme.
3 . Income from Charitable Activities
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Grants | 10,500 | 2,399 | 12,899 |
| –––––– | –––––– | –––––– | |
| 10,500 | 2,399 | 12,899 | |
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The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 to 31 December 2020
| 4. | Expenditure |
Unrestricted | Restricted | Total |
|---|---|---|---|---|
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| a. Charitable Expenditure | ||||
| Core costs | - | - | - | |
| Trips and outings | - | 17 |
17 | |
| DBS Checks | - | 1,079 |
1,079 | |
| Staff salaries | 7,967 | 11,413 |
19,380 | |
| Rent | - | 2,028 |
2,028 | |
| Items for activities | - | 146 |
146 | |
| Training cost | - | 40 | 40 | |
| Student fees - refund | 265 | - |
265 | |
| Subscription | 77 | - | 77 | |
| Office costs | 42 | - |
42 | |
| Depreciation | 1,679 | - | 1,679 | |
| Payroll services | 359 | - |
359 | |
| Governance Costs | ||||
| Accountancy services | 1,464 | - |
1,464 | |
| Independent examination fees | ||||
| –––––– | –––––– | –––––– | ||
| 11,853 | 14,723 |
26,576 | ||
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||
| Raising Funds | ||||
| Fundraising | 2,448 | - |
2,448 | |
| –––––– | –––––– | ––––––– | ||
| 2,448 | - |
2,448 | ||
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The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 to 31 December 2020
| 5. | Staff | |
|---|---|---|
| 2020 | ||
| Number | ||
| Average number employed in period | 44 | |
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||
| Aggregate amounts paid in respect of: | ||
| £ | ||
| Wages and salaries | 19,380 | |
─────── |
||
| 19,380 | ||
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No employee received emoluments exceeding £60,000 p.a. The Trustees received no remuneration in the year.
The trustees consider the key management personnel of the charity to be the trustees and the administrative and management staff, their aggregate remuneration is £7,154.
6. Tangible Fixed assets
| 6. | Tangible Fixed assets | ||
|---|---|---|---|
| Fixtures & | Total | ||
| equipment | |||
| £ | £ | ||
| Cost | |||
| Brought forward | 8,092 | 8,092 | |
| Additions | 353 | 353 | |
| ––––––– | ––––––– | ||
| At 31 December 2020 | 8,445 | 8,445 | |
| ––––––– | ––––––– | ||
| Depreciation | |||
| Brought forward | 4,950 | 4,950 | |
| Charge for the year | 1,679 | 1,679 | |
| ––––––– | ––––––– | ||
| At 31 December 2020 | 6,629 | 6,629 | |
| ––––––– | ––––––– | ||
| Net book amounts | |||
| At 31 December 2020 | 1,816 | 1,816 | |
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||
| 7. | Debtors | ||
| 2020 | |||
| £ | |||
| Other debtors | - | ||
| ––––––– | |||
| - | |||
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The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 to 31 December 2020
| 8. | Cash at Bank and in Hand | |
|---|---|---|
| 2020 | ||
| £ | ||
| Current account | 36,438 | |
| Treasurer’s account | 56,549 | |
| Monmouth Building Society | 83,410 | |
| Cash account | 160 | |
| Petty cash | 128 | |
| ––––––– | ||
| 176,685 | ||
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||
| 9. | Creditors: Amounts Falling Due Within One Year | 2020 |
| £ | ||
| Trade creditors | 1,704 | |
| Other creditors | 18,473 | |
| Accruals | 1,380 | |
| Deferred grant income | 47,289 | |
| ––––––– | ||
| 68,846 | ||
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||
| 10. | Designated Funds | |
| Designated funds comprise: | 2020 | |
| £ | ||
| Designated Fund - Employment Commitment Fund | 5,000 | |
| Designated Fund - Development Fund | 5,000 | |
| –––––– | ||
| 10,000 | ||
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The Employment Commitment Fund represents reserves set aside to meet unforeseen costs associated with employment, for example sickness, maternity and redundancy. The Development Fund is to provide means to enable the charity to respond to opportunities not included in annual budgets.
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The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 to 31 December 2020
11 . Restricted Funds
| Restricted Funds | ||||
|---|---|---|---|---|
| Transfer | Income | Expenditure | Carried | |
| Forward | ||||
| £ | £ | £ | £ |
|
| DCC Small Grants Scheme | - | 2,399 | 2,399 | - |
| Big Lottery Fund | 12,324 | - | 12,324 | - |
| –––––– | –––––– | ––––––– | ––––––– | |
| 12,234 | 2,399 | 14,723 | - | |
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Restricted funds were transferred from the old charity as at 31 October 2020 amounting to £15,294. Transfers to unrestricted funds subsequently amounted to £2,970.
Restricted Funds are funds held for specific activities. All restricted funds above are such due to receipt of grants by the Charity that have specific conditions attached as to their use as well as the furtherance of the Charity’s objectives. The restrictions imposed on the funds are as follows:
DCC Small Grants Scheme – for activities at Exeter and Dartington Summer clubs 2020.
Big Lottery Fund – provided to contribute to particular staff costs, in line with the funding agreement.
The above figures do not include deferred grant income on each restricted fund. This will be recognised as it falls due.
12 . Analysis of net assets between funds
| Analysis of net assets between funds | ||||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Funds | Funds | Funds | ||
| £ | £ | £ | £ | |
| Fund balances at 31 December 2020 | ||||
| are represented by: | ||||
| Tangible fixed assets | 1,816 | - | - | 1,816 |
| Net current assets |
97,839 | 10,000 | - | 107,839 |
| –––––– | –––– | ––––– |
–––––– | |
| 99,655 | 10,000 | - | 109,655 | |
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20
The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 to 31 December 2020
13. Related party transactions
There have been no related party transactions in the year requiring disclosure.
14. Transfer from previous charity
The assets and liabilities of the old charity (no. 1102630) were transferred to the CIO with effect from 31 October 2020. A summarised statement of financial activities for the period 1 January 2020 to 31 October 2020 for the old charity for the period prior to transfer is shown below.
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Funds | Funds | ||
| £ | £ | £ | |
| Income from: | |||
| Donations and legacies | 21,734 | - | 21,734 |
| Charitable activities | 26,459 | 90,609 | 117,068 |
| Investment income | 239 | - | 239 |
| Other income | 654 | - | 654 |
| ––––––– | ––––––– | ––––––– | |
| Total | 49,086 | 90,609 | 139,695 |
| ––––––– | ––––––– | ––––––– | |
| Expenditure | |||
| Charitable activities | 8,818 | 84,065 | 92,883 |
| Raising Funds | 12,240 | - | 12,240 |
| ––––––– | ––––––– | ––––––– | |
| Total | 21,058 | 84,065 | 105,123 |
| ––––––– | ––––––– | ––––––– | |
| Net income/(expenditure) and net | 28,028 | 6,544 | 34,572 |
| movement in funds for the period before transfers | |||
| Transfers between funds | 9,725 | (9,725) | - |
| Funds brought forward at 1 January 2020 | 61,756 | 18,475 | 80,231 |
| ––––––– | ––––––– | ––––– | |
| Total funds transferred to CIO at 31 October 2020 | 99,509 | 15,294 | 114,803 |
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21
The Hollow Lane Club CIO
Notes forming part of the financial statements (continued)
Period from 22 November 2019 to 31 December 2020
14. Transfer from previous charity (continued)
The balance sheet of the old charity immediately prior to transfer to the CIO was as follows:-
| 31 October | |
|---|---|
| 2020 | |
| £ | |
| Fixed assets | |
| Tangible assets | 3,496 |
| Current assets | |
| Debtors | 72 |
| Cash at bank and in hand | 123,726 |
| –––––– | |
| 123,798 | |
| Current liabilities | |
| Creditors: amounts falling due within | |
| one year |
( 12,491) |
| ––––––– | |
| Net current assets | 111,307 |
| ––––––– | |
| Net assets | 114,803 |
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|
| Funds | |
| Restricted Funds | 15,294 |
| Unrestricted funds | |
| General fund | 89,509 |
| Designated Funds |
10,000 |
| ––––––– | |
| Total charity funds | 114,803 |
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