**CHARITY REGISTRATION NUMBER: 1187796** ## **EPIC TEESSIDE CIO Unaudited Financial Statements** ## **31 March 2021** ## **S J ACCOUNTING SERVICES (NE) LTD** Newtown Community Resource Centre Durham Road Stockton on Tees TS19 0DE ## **EPIC TEESSIDE CIO** ## **Financial Statements** ## **Period from 6 February 2020 to 31 March 2021** ||**Page**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**4**| |Statement of financial activities|**5**| |Statement of financial position|**6**| |Notes to the financial statements|**7**| ## **EPIC TEESSIDE CIO** ## **Trustees' Annual Report** ## **Period from 6 February 2020 to 31 March 2021** The trustees present their report and the unaudited financial statements of the charity for the period ended 31 March 2021. ## **Reference and administrative details** **Registered charity name** EPIC TEESSIDE CIO **Charity registration number** 1187796 **Principal office** Primrose Hill Community Centre Appleton Road Stockton on Tees TS19 0HL **The trustees** M Surtees (Appointed 6 February 2020) C Carter (Appointed 6 February 2020) H Laverick (Appointed 6 February 2020) **Independent examiner** SJ Accounting Services (NE) Ltd Newtown Community Resource Centre Durham Road Stockton on Tees TS19 0DE ## **Structure, governance and management** EPIC TEESSIDE CIO is a Charitable Incorporated Organisation (CIO), incorporated on 6th February 2020 and is governed by its constitution which was adapted on 6th February 2020. The CIO is administered by a management committee. ## **Objectives and activities** To further or benefit the residents of Newtown Ward and the neighbourhood without distinction of sex, sexual orientation, race or of policital, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisation in a common effort to advance educatin and provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents. In furtherance of the objectives but not otherwise, the trustee's shall have power: to continue to maintain and manage Primrose Hill Community Centre and work alongside the statutory authority in the maintenance and management of the centre. **1** ## **EPIC TEESSIDE CIO** ## **Trustees' Annual Report** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 2021** ## **Achievements and performance** We have had a difficult and challenging year alongside the Country with the Covid 19 Pandemic. The team of paid staff & volunteers have really rose to the challenges that the Pandemic has presented and has therefore really raised the profile of the Project through our endevours. Some of our key achievements are outlined below; - February 2020 achieving Charitable Status - Remaining open throughout the Pandemic too provide essential support to the community - Providing a Venue for Eastern Ravens Trust when safe for team meetings & administration - • Hosting young carers support sessions for vulnerable groups - CEO becomes Vice Chair of Stockton Central community partnership - Commissioned Community engagement activity for Active Through Football Bid to Football Foundation - Secured 3 years sustainability through a cocktail of funding from Bog Lottery Community Fund, Tudor Trust & Ballinger Trust. This includes an additional 20 hour Community development post and an expansion of our offer to Portrack Tilery, Roseworth, Ragworth, Parkfield & Town Centre our focus will be on community development activity. ## **Partnership activity** - Community engagement activity for Roseworth Big Local with Eastern Ravens Trust - Young people after School club Roseworth with Eastern Ravens Trust - Easter Ravens delivering our youth club sessions - Host for 13 Group neighbourhood team (pre pandemic) - Drop in sessions from 13 Employability & Financial inclusion teams - Volunteers from Step Forward Tees Valley supporting garden project - Hosting Unite Union at the Centre ## **Covid 19 Support** - Delivered 385 food parcels, provided bespoke shopping as part of Stockton Councils response in Central Stockton. - Continued youth engagement through educational craft packs, school holiday activities including litter picks family sports, environmental activity - Isolated residents volunteered in the garden when permitted - Christmas hampers to vulnerable families and isolated/shielding residents - Ongoing support to Hebron Hall foodbank including Christmas hampers - Hot meals delivered to 148 vulnerable families, shielding and isolated adults in Central Stockton - Member of Covid Community Champions The Chair would like to thank the Staff, volunteers and the community for all of the effort this year which has helped Epic to step up to another level. We look forward to another successful year in other areas of Central Stockton **“ Creating Community That Can”.** ## **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 £51,028. The reserves stand at £51,028 all being unrestricted free reserves. This equates to approx 9 months running costs. **2** ## **EPIC TEESSIDE CIO** ## **Trustees' Annual Report** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 2021** ## **Reserves Policy** The trustees 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 it's operations while alternative funding sources were sought. The trustees' annual report was approved on 28[th] June 2021 and signed on behalf of the board of trustees by: **3** ## **EPIC TEESSIDE CIO** ## **Independent Examiner's Report to the Trustees of EPIC TEESSIDE CIO** ## **Period from 6 February 2020 to 31 March 2021** I report to the trustees on my examination of the financial statements of EPIC TEESSIDE CIO ('the charity') for the period ended 31 March 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** 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: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. 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 Services (NE) Ltd Independent Examiner Newtown Community Resource Centre Durham Road Stockton on Tees TS19 0DE **4** ## **EPIC TEESSIDE CIO** ## **Statement of Financial Activities** ## **Period from 6 February 2020 to 31 March 2021** |||**Period from** **6 Feb 20 to**|**Period from** **6 Feb 20 to**| |---|---|---|---| |||**31 Mar 21**|| |||Unrestricted|| |||funds**Total funds**|| ||**Note**|**£**|**£**| |**Income and endowments**|||| |Donations and legacies|**4**|117,536|117,536| |Charitable activities|**5**|3,993|3,993| |||--------------------------------|--------------------------------| |**Total income**||121,529|121,529| |||================================|================================| |**Expenditure**|||| |Expenditure on charitable activities|**6,7**|70,501|70,501| |||--------------------------------|--------------------------------| |**Total expenditure**||70,501|70,501| |||================================|================================| |||--------------------------------|--------------------------------| |**Net income and net movement in funds**||51,028|51,028| |||================================|================================| |**Reconciliation of funds**|||| |Total funds brought forward||–|–| |||--------------------------------|--------------------------------| |**Total funds carried forward**||51,028|51,028| |||================================|================================| 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 7 to 14 form part of these financial statements.** **5** ## **EPIC TEESSIDE CIO** ## **Statement of Financial Position** ## **31 March 2021** |||**31 Mar 21**| |---|---|---| ||**Note**|**£**| |**Fixed assets**||| |Tangible fixed assets|**12**|2,420| |**Current assets**||| |Debtors|**13**|523| |Cash at bank and in hand||48,873| |||----------------------------| |||49,396| |**Creditors: amounts falling due within one year**|**14**|788| |||----------------------------| |**Net current assets**||48,608| |||----------------------------| |**Total assets less current liabilities**||51,028| |||----------------------------| |**Net assets**||51,028| |||============================| |**Funds of the charity**||| |Unrestricted funds||51,028| |||----------------------------| |**Total charity funds**|**16**|51,028| |||============================| These financial statements were approved by the board of trustees and authorised for issue on 28[th] June 2021, and are signed on behalf of the board by: M Surtees Trustee **The notes on pages 7 to 14 form part of these financial statements.** **6** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** ## **Period from 6 February 2020 to 31 March 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 Primrose Hill Community Centre, Appleton Road, Stockton on Tees, TS19 0HL. ## **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. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of 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. **7** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 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. **8** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 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 ## **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. **9** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 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|**Total Funds**| |---|---|---| ||Funds|**2021**| ||£|**£**| |**Donations**||| |Donations|18,256|18,256| **10** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 2021** ## **4. Donations and legacies** _**(continued)**_ |||Unrestricted|**Total Funds**| |---|---|---|---| |||Funds|**2021**| |||£|**£**| ||**Grants**||| ||JRS Grant|6,377|6,377| ||Stockton Borough Council|20,603|20,603| ||Tees Valley Community Foundation|990|990| ||CDCF Covid Funding|4,150|4,150| ||Thirteen|1,500|1,500| ||Community Fund Covid Grant|19,490|19,490| ||Groundwork|500|500| ||Tudor Trust|39,600|39,600| ||Angling Trust|3,220|3,220| ||Football Project|1,250|1,250| ||Unite Rent|600|600| ||Teesside University|1,000|1,000| |||--------------------------------|--------------------------------| |||117,536|117,536| |||================================|================================| |**5.**|**Charitable activities**||| |||Unrestricted|**Total Funds**| |||Funds|**2021**| |||£|**£**| ||Other income from charitable activities type 1|3,993|3,993| |||=======================|=======================| |**6.**|**Expenditure on charitable activities by fund type**||| |||Unrestricted|**Total Funds**| |||Funds|**2021**| |||£|**£**| ||Activity type 1|68,755|68,755| ||Support costs|1,746|1,746| |||----------------------------|----------------------------| |||70,501|70,501| |||============================|============================| ## **7. Expenditure on charitable activities by activity type** ||Activities||| |---|---|---|---| ||undertaken|Support|**Total funds**| ||directly|costs|**2021**| ||£|£|**£**| |Activity type 1|68,755|–|68,755| |Governance costs|–|1,746|1,746| ||----------------------------|-----------------------|----------------------------| ||68,755|1,746|70,501| ||============================|=======================|============================| **11** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 2021** ## **8. Net income** Net income is stated after charging/(crediting): **31 Mar 21 £** Depreciation of tangible fixed assets 269 ============== **Independent examination fees Period from 6 Feb 20 to 31 Mar 21 £** Fees payable to the independent examiner for: Independent examination of the financial statements 700 ============== **Staff costs** The total staff costs and employee benefits for the reporting period are analysed as follows: **Period from 6 Feb 20 to 31 Mar 21 £** Wages and salaries 47,600 Social security costs 144 Employer contributions to pension plans 1,054 ---------------------------48,798 ## **9. Independent examination fees** ## **10. Staff costs** The average head count of employees during the period was 2. 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; **12** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 2021** ## **12. Tangible fixed assets** ||**Fixtures and**| |---|---| ||**fittings**| ||**£**| |**Cost**|| |At 6 February 2020|–| |Additions|2,689| ||-----------------------| |**At 31 March 2021**|2,689| ||=======================| |**Depreciation**|| |At 6 February 2020|–| |Charge for the period|269| ||-----------------------| |**At 31 March 2021**|269| ||=======================| |**Carrying amount**|| |**At 31 March 2021**|2,420| ||=======================| |**Debtors**|| ||**31 Mar 21**| ||**£**| |Prepayments and accrued income|517| |Other debtors|6| ||--------------| ||523| ||==============| |**Creditors:** **amounts falling due within one year**|| ||**31 Mar 21**| ||**£**| |Accruals and deferred income|788| ||==============| **13. Debtors** ## **14. Creditors: amounts falling due within one year** ## **15. 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 £1,054. ## **16. Analysis of charitable funds** ## **Unrestricted funds** |**Unrestricted funds**||||||| |---|---|---|---|---|---|---| |||At||||**At**| ||6|February 2|||**31 March**|**20**| |||020|Income|Expenditure||**21**| |||£|£|£|£|| |General funds||–|121,529|(70,501)|
51,028|| |||==============|================================|============================|============================|| **13** ## **EPIC TEESSIDE CIO** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 6 February 2020 to 31 March 2021** ## **17. Analysis of net assets between funds** ||Unrestricted|**Total Funds**| |---|---|---| ||Funds|**2021**| ||£|**£**| |Tangible fixed assets|2,420|2,420| |Current assets|48,608|48,608| ||----------------------------|----------------------------| |**Net assets**|51,028|51,028| ||============================|============================| **14**