AGM – Treasurers Report
Date of board meeting 17/08/2021 Reporting Period 0/03/2020-17/08/2021 Report compiled by Lesley Butterworth, Treasurer Chair’s approval 17/08/2021
This report gives an overview of financial performance of Quinn’s Retreat, from the commencement of becoming a Charity up to the AGM in August 2021.
Overall, the charity has performed well financially especially within the context of the COVID19 pandemic which had a significant impact on fundraising activities. The pandemic also however limited the number of guests who were able to stay and therefore costs were lower than expected. Trustees have been kept up to date virtually with the financial position and where decisions needed to be made in line with the charities standard financial instructions this has been undertaken via online voting. The working budget and business plan for 21/22 has been signed off by trustees using an online vote. There have been no disputes with regards to financial decisions.
The largest expenditure in 20/21 was that of the purchase of the first Quinn’s Retreat caravan, the caravan was purchased in March 2020 but the cost following the first payment of £10,000 (prior to the charity being fully established and bank account being set up) was spread over the first months of the year with the balance of £11,995 being paid off in July 2020. As the caravan was a new acquisition for the charity in 2020/21 there was significant expenditure on fixtures and fittings. This expenditure was however within the established budget. The caravan has not been valued since purchase, however similar caravans on the site are holding value well and it is considered the current value of the caravan for insurance purposes is £22,000.
Guest costs in 20/21 have been much lower than expected, this has been due to the COVID19 lockdown restrictions meaning we have been unable to have guests stay at Quinn’s Retreat from March-July 2020 and then again from Nov 2020-April 2021. Demand has been high for stays and the budget for 21/22 is based upon a 80% occupancy rate throughout the year. Each guest stay, a hamper of local goods is provided along with other items such as cleaning products. There is also a cost associated with getting the caravan ready for each guest stay, this includes laundering of bed linen etc. Currently cleans in-between guests are undertaken by volunteers and so the only other associated cost is that of volunteer mileage claims. It should be noted that no volunteers have submitted mileage claims this year. The budget for 21/22 includes a contingency plan for
14 Station Street, Shildon, Co. Durham, DL4 1PD quinnsretreat@gmail.com www.quinnsretreat.org.uk www.facebook.com/quinnsretreat
an externally cleaning provider, should volunteer support not be available. Gas and electricity costs are also projected to be higher in 21/22, assuming that more guests will be staying in the caravan following relaxation of COVID19 restrictions. However, it is noted that the electricity cost for 20/21 was much lower than originally budgeted. The current average cost per guest stay is between £100150 per week, dependent upon the number of guests and the length of stay. The experience of our guests has been overwhelmingly positive.
Ground rent for the caravan plot at River View caravan park was within with budget for 20/21, however it has been noted that other owners on the park have discussed that there was a larger than expected rise on ground rent fees this year. To mitigate this possibility in 21/22 the ground rent budget line has been increased by 20%, as this reflects the return to full VAT rate for the fees (which was decreased in 20/21 due to the pandemic).
Year-end accounts have been prepared ready for the annual report and are awaiting independent verification. This is required as total income has been greater than £25,000 however a full audit is not required and the person does not need to be a qualified accountant. The charities commission state the examiner must have the skills and experience needed to carry out his or her responsibilities. The starting point for all independent examiners is an understanding of their responsibilities, as explained in Independent examination of charity accounts: examiners (CC32). All examiners must also understand the key governance and reporting requirements that are specific to charities. These include the responsibilities of trustees and the requirements to produce a trustees’ annual report and to account for the different types of charitable funds. Whatever their skills and professional qualifications, new examiners who are not familiar with the charity sector will need to gain this background knowledge before starting their examination. An examiner must also have sufficient accounting skills to carry out an independent examination. The board have yet to appoint an independent examiner. The date for submission of the annual report including the verification is 10 months from the year end which will be the 30[th] November 2021.
Financial position at AGM 17/08/2021
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Bank balance £22,734.35
PayPal balance £156.93
Cash held £80.00
TOTAL CAPITAL £22971.28
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14 Station Street, Shildon, Co. Durham, DL4 1PD quinnsretreat@gmail.com www.quinnsretreat.org.uk www.facebook.com/quinnsretreat
The board is asked to accept this report and move to nominate an independent examiner for the accounts by the end of September 2021 to ensure sufficient time for the annual report to be submitted to the Charities Commission.
14 Station Street, Shildon, Co. Durham, DL4 1PD quinnsretreat@gmail.com www.quinnsretreat.org.uk www.facebook.com/quinnsretreat
Quinn's Retrea Receipts and Payment
Year start date
For the year from
03/01/2020
Receipts and payments
Unrestricted funds
£
Receipts
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Donations, legacies and similar income
Membership subscriptions -
Donations
26,085
Legacies -
Gift Aid
-
Other similar income
7,917
Sub total 34,002
Grants
Grant
-
Other grants -
Sub total -
Fundraising (gross)
Detail 1
-
Detail 2
-
Other fundraising activities -
-
Sub total -
Investment income
Bank interest
-
Building Society interest -
Other investment income
-
-
-
Sub total -
Total Gross Income 34,002
Asset and investment sales, etc. -
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Total receipts 34.002
Quinn's Retrea Receipts and Payment
Year start date
For the year 03/01/2020 from
Receipts and payments
Unrestricted funds
£
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Payments
Charitable Payments
Wages -
Ground rent
3,300.00
Electricity and Gas
127.29
Insurance
185.24
Repairs and Renewals
1,810.01
Materials and equipment
123.94
Guest costs
429.72
AGM and trustee expenses
-
-
-
-
-
-
-
Sub total
5,976.20
Fundraising expenses
Raffle prizes 160.00
-
-
Other fundraising costs
-
Sub total
160.00
Total Gross Expenditure 6,136.20
Asset and investment purchases, etc.
11,995.00
Total payments 18,131.20
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Net of receipts/(payments) Cash funds last year end
Cash funds this year end
15,870.92 - 15,870.92
Statement of assets and liabilities at the end of the year
Unrestricted funds
£
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Cash funds
Bank current account
16,790.31
PayPal account 604.76
Cash/Floats -
-
-
Total cash funds (Agree balances with receipts and
17,395.07
payments account(s))
Other monetary assets
Tax claim
-
-
-
Sub total
-
Investment assets
-
-
-
Sub total
-
Non monetary assets for charity's own use
Stock
-
Land and buildings -
Motor vehicles -
Caravan
22,000
-
-
-
Sub total
22,000
Liabilities
Accounts not yet paid -
Expenses incurred but not invoiced -
Subscriptions not yet paid -
Loan - detail
-
Other liabilities -
Sub total
-
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Contingent liabilities and future obligations
Signed by one or two trustees on behalf of all the trustees
Signature
at s Account
Year end date
To 02/28/2021
2020/2021 2019/2020 Restricted funds Total funds Total funds
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£ £ £
- - -
26,085 -
- - -
- - -
- 7,917 -
- 34,002 -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- 34,002 -
- - -
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- 34,002 -
at s Account
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Year end date
To 02/28/2021
2020/2021 2019/2020
Restricted funds Total funds Total funds
£ £ £
- - -
- [ 3,300.00 ] -
- [ 127.29 ] -
- [ 185.24 ] -
- [ 1,810.01 ] -
- [ 123.94 ] -
- [ 429.72 ] -
- [ - ] -
- [ - ] -
- [ - ] -
- [ - ] -
- [ - ] -
- [ - ] -
- [ - ] -
- 5,976.20 -
- 160.00 -
- - -
- [ - ] -
- [ - ] -
- 160.00 -
- 6,136.20 -
- [ 11,995.00 ] -
- 18,131.20 -
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- 15,870.92 -
- - -
- 15,870.92 -
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2020/2021
2019/2020
Restricted funds
Total funds
Total funds
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£ £ £
- 16,790.31 -
- 604.76 -
- - -
- - -
- - -
- 17,395.07 -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- 22,000 -
- - -
- - -
- - -
- 22,000 -
- - -
- - -
- - -
- - -
- - -
- - -
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Print Name Date of a roval
Ir, £0 + c&ocLiiS Independent examinerfs report to the charity trustees of Quinn's Retreat I report on the accounts of the Quinn's Retreat for the year ended 28, February 2021. Respective responsibilitles of charity trustees and examiner As the charivs trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It 15 my responsibility to- Examine the accounts under section 65 of the Charities Act Follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act State whether particular matters have come to my attentlon. Ba515 of examiner's statement I have examined your charity accounts as requlred under sectlon 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act. The examination included a review of the accounting records kept by the charity and a tomparison of the accounts presented wlth those retord5. It a159 included consideration of any unusual Items or disclosures in the accounts, and seeklng explanations from you as charity trustees concerning any such matters. My role is to state whether any materlal matters have come to my attention giving me ¢ause to believe: That accounting records were not kept as required by sertion 63 of the Charlties Act That the accounts do not accord with those accounting records That the accounts do not comply wlth the accounting requirements of the Charities Act That there is further Information needed for a proper understanding of the occount5 to be reached. Independent examinerfs statement I have completed my examination and have no concerns in respect of the matters111 to141 listed above and, In connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Signature.'c4< Name: Relevant professional qualification if any.. K) Address: 2 2 Date:
Quinn's Retreat- Charity Number: 1187899 th Independent Examination- Accounts Ending 28 February 2021 Independent Examiner.. Helena Jayne Bourner As this is an Independent Examination and not a full audit. it is not necessary to hold any qualifications to carry out this examination as the charity's gross income falls below the £250,000 bracket as conf irmed by the payments & receipts and the bank statements. I work as a Report Writer and hold a DipPFS qualification. It is therefore reasonable that I should have sufficient skills to carry out this independent examination. I do not have any further connettions with the Quinn's Retreat charitv. I can confirm I have based this Independent examination based on the third party evidence provided to me by the trustees of Quinn's Retreat. Dlrectlon I: Check whether the charlty Is ellglble to have an independent examlnatlon AppendLx 1= Flowchart.. charty eiigibilty requirements for inQepen¢Jenl examlnatlon the Bba PrAmihiltythJibli fDrin dortr •ady•lqtlotobi£¥ir¢pt mth&audrt 1C4p•[#Stl(1e. 140 Dwth•wMnvrq dxuffAint l¢otnwy Drnan<ornwylcrfi nthrrowlrvtin ¥Jdils{Tr •udiwwr•d kq inothth- dr¢uwiirr4ndid toily Ptyit)wk lundlithktrip•Tr ND Drw•q1055VKOm Xf•Ad £250.ODOdoR5thoao9rn0 wthS£32llrn7 thck¥tythas5thhlvinR5. tre•wytegrD551rK(wor epirEdind JnwJdiLi4rw by stsrJ', belLv£lmp{oD act4UThLsarn4Yrn4ui by 15thE llfossniEcmthxihy i5£25,ODO orss? IrdiwdEnt tsTr I¥1[&d, btt stSrrallY chDJ5ÈiErf th*1$h. ¥DumNuireMert akn•Jllh tTrkca3's £250,0ODthknmVty%tst qUaIrf.)
Gross Income - £29,006.84 The definition of gross income for a charity depends on the form of accounts prepared.. 'For receipts and payments accounts, _ gross income is the total receipts recorded in the statement of accounts from all sources excluding the receipt of any endowment, loans and proceeds from the sale of investments or fixed assets. Bank Statements Money In February 2021 £1,734.54 January 2021 £2,762.56 December 2020 £1,421.89 November 2020 £2,378.17 October 2020 £1,006.29 September 2020 £2,619.41 August 2020 £3,813.61 july 2020 £2,738.07 lune 2020 £1,595.30 May 2020 £8,937.00 Total £29,006.84 'Amount of £5,046.19 shown on May 2020 bank statement with note stating Hitatchi and £5,000 shown on same statement as being paid out to Meridian Parks. As this is a loan this has not been included in the above table. Quinn's Retreat 15 not a parent charity and has no subsidiaries. The examiner Is requlred to check that: an examination is required under section 145111 of the Charities Act 2011 section 144111 lauditl of the Charities Act 2011 does not apply to the charity Checked the current thresholds for audlt are not exceeded. These thresholds are currently set out In section 144 of the Charities Act 2011 as amended by the Charities Act 2011IAccounts and Audit) Order 2015 where the charity is a small company charity, it is exempt from audit in accordance with section 477 of the Companies Act 2006 where accounts are prepared on a receipts and payments basls under section 133 of the Charities Act 2011, that the charity trustees have elected to prepare accounts under this sub-section if the charity has subsidiaries, the group income is below the threshold for the preparation of group accounts Isection 138 of the Charities Act 20111. The current threshold is specified in The Charities Act 2011 (Group Accounts) Regulations 2015 NIA Dlrectlon 2: Check for any ¢onfli¢t of interest that prevents the examiner from carrying out thelr independent examination I can confirm that l am not a member of the charity. l am not involved in any day to day artivities of Quinn's Retreat. I do not believe I have any conflict of interest nor would it be perceived that l am not independent in carrying out this reF)Ort.
Direction 3: Record your independent examination This document is a record of the independent examination. Direct 4: Plan your independent examination l am confident l understand the nature of the charity, what the charity aims to do and how they plan to do it. The Trustees of Quinn's Retreat have provided Treasurerfs reports; which includes minutes from the AGM, budget setting and budget reports that clearly demonstrate what the charity is trying to achieve. Dirertion 5: Check that accounting records are kept to the required standard Quinn's Retreat have provided up to date account Information Including bank statements dating back to May 2020 and receipts for transactions. The budget reports detail the assets held, how their budget held up against the actual yearly costs and the proposed budget for the forthcoming year includin8 assumed income and expenditure. Direction 6: Check that the accounts are consistent with the accountlng records I can confirm that I have reviewed the receipt5 provlded against the bank statements provided f rom May 2020 to February 2021 and feel these records have been maintained in accordance with section 386 of the CompanSes Act 2006, Dirertion 7: NIA Dirertion 8: Check the reasonableness of the si8nlflcant estlmates and judgements and accountlng policies used in accounting for the types of fund held and in the preparation of the accounts. Receipts and payments accounts have been provided and checked. It is my judgement that the bank Statements are reflective of the receipts and payments provided. Many donations are provided from facebook or bank transfer5 and there is no further evidence of these payments in but nor would I expect there to be. The donations are reasonable and what you would expect. Direction 9: The examiner must check whether the trustees have considered the financial cirtumstances of the charity at the end of the reportlng period and, if ihe accounts are prepared on an accruals basis, check whether the trustees have made an assessment of the charitvs posltlon as a golng concern when approvlng the accounts. The trustees have provided Budget Reports on a quarterly basis as well as a budget report for next year, all of which Seems reasonable and appropriate. It is my belief the trustees have considered the financial circumstances of the charity not only at the end of the reporting period but continuously throughout the yèar. Dirertion 10: Check the form and content of the accounts. Dirertion 11: Identify items from the analytical review of the accounts that need to be followed up for further explanation or evidence. Dirertion 12: Compare the tru5tee5' annual report with the accounts. I have found nothing I wish to investigate further. All transattions are clearly stated and easy to follow.