Gainsborough Community Wheels Unaudited financial statements
31 May 2021
Charity Registration Number 1189605
Gainsborough Community Wheels
Financial statements
Period from 21 May 2020 to 31 May 2021
| Pages | |
|---|---|
| Trustees' annual report | 1 to 2 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 to 12 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
- 1 -
Gainsborough Community Wheels
Trustees' annual report
Period from 21 May 2020 to 31 May 2021
The trustees present their report and the unaudited financial statements of the charity for the period ended 31 May 2021.
Reference and administrative details
Registered charity name Gainsborough Community Wheels Charity registration number 1189605 Principal office Gainsborough House Parnell Street Gainsborough
The trustees
C Johnson S Norton M Thomas J Brighton Independent examiner Tom Darby FCCA 7 Spring Gardens Gainsborough
Structure, governance and management
Governing Document
Gainsborough Community Wheels is a Charitable Incorporated Organisation. The charity is governed by its constitution which was adopted on 21st May 2020.
Recruitment and Appointment of Trustees
Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity 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.
Objectives and activities
The trustees confirm that they have referred to guidance contained in the Charity Commission's public benefit guidance when reviewing the charity's aims and objectives.
The objects of the charity are for the provision of transport facilities in Gainsborough and the surrounding area for people who have special need of such facilities because they are elderly, poor or disabled, people with young children or those living in isolated areas of rural Lincolnshire where there are no adequate public transport facilities.
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Gainsborough Community Wheels
Trustees' annual report (continued)
Period from 21 May 2020 to 31 May 2021
Achievements and performance
GCW is run entirely by volunteer trustees, drivers, and administration staff. Drivers use their own vehicle, and a mileage charge is made to cover fuel and running costs of the scheme.
It was noted by the Trustees that lack of a mobility vehicle meant that we struggled to offer the service to wheelchair passengers, so funding applications were submitted and in April 2021 we were able to purchase a mobility vehicle.
Due to Covid we were unable to hold our usual coffee mornings during the year.
Covid also affected us, hospitals, dentists, and doctors curtailed clinic appointments and lockdown meant we had to stop offering our service until July 2020. However since then, we have not stopped even through the second lockdown, paying particular attention to social distancing, cleaning of vehicles between journeys, everyone wearing face coverings and passengers sitting in the rear of the vehicle.
Financial review
At the balance sheet date the charity had unrestricted reserves of £16,177. The charity does not have a reserves policy.
There are no funds in deficit.
The trustees' annual report was approved on 30 September 2021 and signed on behalf of the board of trustees by:
C Johnson Chairperson
M Thomas Treasurer
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Gainsborough Community Wheels
Independent examiner's report to the trustees of Gainsborough Community Wheels
Period from 21 May 2020 to 31 May 2021
I report to the trustees on my examination of the financial statements of Gainsborough Community Wheels ('the charity') for the period ended 31 May 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Tom Darby FCCA Independent Examiner
7 Spring Gardens Gainsborough
30 September 2021
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Gainsborough Community Wheels
Statement of financial activities
Period from 21 May 2020 to 31 May 2021
| Period from | 21 May 20 to | ||
|---|---|---|---|
| 31 May 21 | |||
| Unrestricted | |||
| funds | Total funds | ||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 4 | 7,844 | 7,844 |
| Charitable activities | 5 | 8,880 | 8,880 |
| Other income | 6 | 9,963 | 9,963 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 26,687 | 26,687 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||
| Expenditure on charitable activities | 7,8 | 10,510 | 10,510 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 10,510 | 10,510 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net income and net movement in funds | 16,177 | 16,177 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 16,177 | 16,177 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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 6 to 12 form part of these financial statements.
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Gainsborough Community Wheels
Statement of financial position
31 May 2021
| 31 May 2021 | |||
|---|---|---|---|
| 31 May 21 | |||
| Note | £ | ||
| Fixed assets | |||
| Tangible fixed assets | 12 | 6,558 | |
| Current assets | |||
| Debtors | 13 | 1,177 | |
| Cash at bank and in hand | 10,636 | ||
| ৄৄৄৄৄৄৄৄ | |||
| 11,813 | |||
| Creditors: amounts falling due within one year | 14 | 2,194 | |
| ৄৄৄৄৄৄৄৄ | |||
| Net current assets | 9,619 | ||
| ৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 16,177 | ||
| ৄৄৄৄৄৄৄৄ | |||
| Net assets | 16,177 | ||
| ৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | |||
| Unrestricted funds | 16,177 | ||
| ৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 15 | 16,177 ৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 30 September 21, and are signed on behalf of the board by:
C Johnson M Thomas Chairperson Treasurer
The notes on pages 6 to 12 form part of these financial statements.
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Gainsborough Community Wheels
Notes to the financial statements
Period from 21 May 2020 to 31 May 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is a charitable incorporated organisation.
The address of the principal office is Gainsborough House, Parnell Street, Gainsborough. 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.
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.
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Gainsborough Community Wheels
Notes to the financial statements (continued)
Period from 21 May 2020 to 31 May 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Gainsborough Community Wheels
Notes to the financial statements (continued)
Period from 21 May 2020 to 31 May 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles - 25% reducing balance
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 cashgenerating 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.
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Gainsborough Community Wheels
Notes to the financial statements (continued)
Period from 21 May 2020 to 31 May 2021
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Donations | ||
| Donations | 2,849 | 2,849 |
| Grants | ||
| Grants receivable | 4,995 | 4,995 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 7,844 | 7,844 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
5. Charitable activities
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Driving income | 8,487 | 8,487 |
| LCC - telephone | 393 | 393 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 8,880 | 8,880 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
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Gainsborough Community Wheels
Notes to the financial statements (continued)
Period from 21 May 2020 to 31 May 2021
6. Other income
7.
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Donation - Gainsborough Community Wheels | 9,963 | 9,963 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |
| Expenditure on charitable activities by fund type | ||
| Unrestricted | Total Funds | |
| Funds | 2021 | |
| £ | £ | |
| Provision of transport | 9,790 | 9,790 |
| Support costs | 720 | 720 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 10,510 | 10,510 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
8. Expenditure on charitable activities by activity type
| Activities | |||
|---|---|---|---|
| undertaken | Total funds | ||
| directly Support costs | 2021 | ||
| £ | £ | £ | |
| Provision of transport | 9,790 | – | 9,790 |
| Governance costs | – | 720 | 720 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 9,790 | 720 | 10,510 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
9. Net income
Net income is stated after charging/(crediting):
| £ | |
|---|---|
| Depreciation of tangible fixed assets | 437 |
| ৶৶৶৶ |
10. Staff costs
The total staff costs and employee benefits for the reporting period was £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.
During the year 2 trustees were reimbursed expenses of £4,608 for driving costs and 1 trustee was reimbursed expenses of £101 for travel expenses.
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Gainsborough Community Wheels
Notes to the financial statements (continued)
Period from 21 May 2020 to 31 May 2021
12. Tangible fixed assets
| Motor | |
|---|---|
| vehicles | |
| £ | |
| Cost | |
| At 21 May 2020 | – |
| Additions | 6,995 |
| ৄৄৄৄৄৄৄ | |
| At 31 May 2021 | 6,995 |
| ৶৶৶৶৶৶৶ | |
| Depreciation | |
| At 21 May 2020 | – |
| Charge for the period | 437 |
| ৄৄৄৄৄৄৄ | |
| At 31 May 2021 | 437 |
| ৶৶৶৶৶৶৶ | |
| Carrying amount | |
| At 31 May 2021 | 6,558 |
| ৶৶৶৶৶৶৶ | |
| Debtors | |
| £ | |
| Trade debtors | 1,177 |
| ৶৶৶৶৶৶৶ | |
| Creditors: amounts falling due within one year | |
| £ | |
| Trade creditors | 1,474 |
| Accruals and deferred income | 720 |
| ৄৄৄৄৄৄৄ | |
| 2,194 | |
| ৶৶৶৶৶৶৶ |
13. Debtors
14. Creditors: amounts falling due within one year
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | At | ||||||
| 21 | May | 2020 | Income | Expenditure | 31 | May 2021 | |
| £ | £ | £ | £ | ||||
| General funds | – ৶৶৶৶ |
26,687 ৶৶৶৶৶৶৶৶ |
(10,510) ৶৶৶৶৶৶৶৶ |
16,177 ৶৶৶৶৶৶৶৶ |
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Gainsborough Community Wheels
Notes to the financial statements (continued)
Period from 21 May 2020 to 31 May 2021
16. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Tangible fixed assets | 6,558 | 6,558 |
| Current assets | 11,813 | 11,813 |
| Creditors less than 1 year | (2,194) | (2,194) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net assets | 16,177 | 16,177 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
- 13 -
Gainsborough Community Wheels
Management information
Period from 21 May 2020 to 31 May 2021
The following pages do not form part of the financial statements.
- 14 -
Gainsborough Community Wheels
Detailed statement of financial activities
Period from 21 May 2020 to 31 May 2021
| Period from | |
|---|---|
| 21 May 20 to | |
| 31 May 21 | |
| £ | |
| Income and endowments | |
| Donations and legacies | |
| Donations | 2,849 |
| Grants receivable | 4,995 |
| ৄৄৄৄৄৄৄ | |
| 7,844 | |
| ৄৄৄৄৄৄৄ | |
| Charitable activities | |
| Driving income | 8,487 |
| LCC - telephone | 393 |
| ৄৄৄৄৄৄৄ | |
| 8,880 | |
| ৄৄৄৄৄৄৄ | |
| Other income | |
| Donation - Gainsborough Community Wheels | 9,963 |
| ৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | |
| Total income | 26,687 |
| ৶৶৶৶৶৶৶৶ | |
| Expenditure | |
| Expenditure on charitable activities | |
| Driver costs | 7,321 |
| Rent | 347 |
| Repairs and maintenance | 267 |
| Refreshments | 63 |
| Motor vehicle expenses | 483 |
| Travel costs | 101 |
| Accountancy fees | 720 |
| Telephone | 393 |
| Other office costs | 338 |
| General expenses | 40 |
| Depreciation | 437 |
| ৄৄৄৄৄৄৄৄ | |
| 10,510 | |
| ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | |
| Total expenditure | 10,510 |
| ৶৶৶৶৶৶৶৶ | |
| ৄৄৄৄৄৄৄৄ | |
| Net income | 16,177 |
| ৶৶৶৶৶৶৶৶ |