2021-12-31-accounts

Charity number: 206425

NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 19

NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees	M Preston
	A Owen,Treasurer
	P Thomas,Chair
	C Rapley
Charity registered number 206425 Principal office 3 Brigg Street Norwich Norfolk NR2 1QN Accountants Larking Gowen LLP Chartered Accountants King Street House 15 Upper King Street Norwich NR3 1RB Bankers Barclays Bank PLC 5/7 Red Lion Street Norwich Solicitors Rogers & Norton The Old Chapel 5-7 Willow Lane Norwich NR2 1EU

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2021 to 31 December 2021.

Objectives and activities

a. Policies and objectives

The objects of the society are to promote the welfare of its members spiritually, socially, intellectually and physically and to aid missions at home and abroad.

b. Activities undertaken to achieve objectives

The society’s policy objectives are met by the provision of sports facilities at Brigg Street Norwich and Hilltops Swardeston. The trustees are mindful of the need to ensure the activities of the charity fulfil the criteria for public benefit and have given careful consideration to the Charity Commissions general guidance.

c. Donations and grant-making policies

The society makes charitable donations to other organisations catering for young people and religious activities at home and abroad.

Grant and donation applications are reviewed by the Secretary and discussed at the meetings of the Finance Committee. Recommendations are subsequently put to the General Committee for approval.

d. Main activities undertaken to further the Charity's purposes for the public benefit

The trustees have had due regard to the Charity Commission guidance on public benefit. The activities undertaken to further the charity's purposes for the public benefit are described above.

Achievements and performance

a. Review of activities

The society provides table tennis facilities to its own teams at Brigg Street. The society also supported its own football and cricket teams.

In keeping with the society’s objectives particular support has been given to young persons via the CEYMS / Swardeston Youth Cricket Development Programme, and Norfolk Cricket Board with donations of £11,000 (2020: £10,000).

In addition the society has made charitable donations of £Nil (2020: £127) to aid young people and associated organisations in this country and overseas.

There is a net deficit before the realised and unrealised gains on investments of £89,317 (2020: net gain of £11,305).

b. Investment policy and performance

The society invests in stocks and shares using a professional firm of stockbrokers for advice. The society also invests in property. These generate the majority of the society's income and may provide capital growth. The current market value of the charity's UK quoted investments is £665,771 (2020: £689,591) and they have a historical cost value of £373,846 (2020: £416,196).

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

a. Going concern

The trustees are satisfied with the year-end financial position and that the charity remains a going concern.

b. Reserves policy

The trustees have reviewed the reserves of the charity. This review encompassed the nature of the income and expenditure streams, the need to match income with fixed commitments and the nature of the reserves. There is a need to retain sufficient reserves to fund the expected annual deficit and to guard against the potential loss of rental income.

During the year the charity’s unrestricted reserves decreased from £1,381,262 to £1,336,946. With free reserves of £705,549 (2020: £761,878), being reserves excluding restricted funds and tangible fixed assets.

Restricted funds have decreased from £2,228 to £2,077 as a result of the revaluation on the restricted COIF shares.

Structure, governance and management

a. Constitution

Norwich Church of England Young Men's Society is a registered charity, number 206425, and is constituted under a Trust deed.

b. Methods of appointment or election of Trustees

In looking for new trustees, the existing trustees bear in mind the experience and qualification of possible candidates who are supportive of the Charity’s aims. Successful candidates are elected at a meeting of existing trustees.

c. Organisational structure and decision-making policies

The trustees hold ad hoc meetings to consider major matters affecting the society. They and the general committee are responsible for the day to day running of the society. The general committee members are elected at the annual general meeting.

Plans for future periods

A new tenant has been secured for the unit vacated in 2019 and following a fit out of the unit and a period of rent-free, the society will again receive revenue from this in the later part of 2022.

Ongoing discussions with Lakenham Hewett rugby club concerning revisions to their lease have resumed.

The Trustees’ continue to explore alternative uses for the vacant parts of Brigg Street following the closure of the premises during the covid pandemic.

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• 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 adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

…..…..…..…..…..….. A Owen Trustee 25.10.22. Date: …..…..…..…..

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

Independent examiner's report to the Trustees of Norwich Church of England Young Men's Society ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2021.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 2011 Act; or

2. the accounts do not accord with those records; or

3. 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: …..…..…..…..…..….. Dated: 25 October 2022

Giles Kerkham FCA DChA

Larking Gowen LLP Chartered Accountants Norwich

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Note Income from: Donations and legacies 2 Charitable activities 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net (expenditure) / income before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Restricted funds 2021 £ - - - - - - - (151) (151) 2,228 (151) 2,077	Unrestricted funds 2021 £ 42,655 - 58,196 100,851 190,168 190,168 (89,317) 45,001 (44,316) 1,381,262 (44,316) 1,336,946	Total funds 2021 £ 42,655 - 58,196 100,851 190,168 190,168 (89,317) 44,850 (44,467) 1,383,490 (44,467) 1,339,023	Total funds 2020 £ 86,586 3,991 167,333
				257,910
				246,605
				246,605
				11,305 14,752
				26,057
				1,357,433 26,057
				1,383,490

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 19 form part of these financial statements.

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

BALANCE SHEET AS AT 31 DECEMBER 2021

Note Fixed assets Tangible assets 9 Investments 11 Current assets Stocks Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total net funds Charity funds Restricted funds 14 Unrestricted funds 14 Total funds	- 15,030 52,226	2021 £ 631,397 665,771 1,297,168 41,855 1,339,023 2,077 1,336,946 1,339,023	9 22,165 74,765	2020 £ 619,384 689,591
				1,308,975 74,515
	67,256 (25,401)		94,337 (22,424)
				1,383,490
				2,228 1,381,262
				1,383,490

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

…..…..…..…..…..….. A Owen Trustee

Date: …..…..…..….. 25.10.22

The notes on pages 8 to 19 form part of these financial statements.

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Norwich Church of England Young Men's Society meets the definition of a public benefit entity under FRS 102

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.4 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies (continued)

1.6 Tangible fixed assets and depreciation

The charity previously adopted a policy to write off expenditure directly to the statement of financial activities in respect of plant and machinery (of a capital nature). A policy of capitalising fixed assets costing in excess of £599 and charging depreciation was adopted from 1 January 2002 for all plant and equipment purchased thereafter.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property - 2% straight line Plant and machinery - 15% reducing balance / 33% straight line

1.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

1.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies (continued)

1.12 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measures at their settlement value.

1.13

Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. Income from donations and legacies

Grants Government grants Total 2021	Unrestricted funds 2021 £ 21,367 21,288 42,655	Total funds 2021 £ 21,367 21,288 42,655	Total funds 2020 £ 23,400 63,186
			86,586

During the year Local Authority Discretionary grants totalling £21,288 (2020: £36,334) were received from Norfolk City Council and South Norfolk District Council as part of the Government's response to the Covid-19 global pandemic.

The charity also received £21,367 (2020: £Nil) from the Football Foundation towards the cost of a new tractor.

The charity also received funds of £Nil (2020: £26,852) as part of the Coronavirus Job Retention Scheme. Funding represents some of the costs of employing certain staff unable to carry out their duties as a result of the coronavirus crisis.

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. Income from charitable activities

Members’ subscriptions Sports charges Canteen Total 2021 4. Investment income Investment property rentals Listed investments income Investment cash income Total 2021 5. Analysis of expenditure by activities Governance Members’ activities Charitable donations Total 2021	Activities undertaken directly 2021 £ - 167,402 11,000 178,402	Total funds 2021 £ - - - - Total funds 2021 £ 39,634 18,562 - 58,196 Support costs 2021 £ 11,766 - - 11,766	Total funds 2020 £ 1,220 2,047 724
			3,991
			Total funds 2020 £ 149,248 17,719 366
			167,333
			Total funds 2021 £ 11,766 167,402 11,000
			190,168

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. Analysis of expenditure by activities (continued)

Governance Members’ activities Charitable donations Total 2021	Activities undertaken directly 2020 £ - 218,944 10,127 229,071	Support costs 2020 £ 17,534 - - 17,534	Total funds 2020 £ 17,534 218,944 10,127
			246,605

Charitable donations includes payment of £11,000 (2020: £10,000) to CEYMS / Swardestonm Cricket Club Youth Section.

Analysis of direct costs

Staff costs Rates and insurance Telephone Light and heat Property equipment and repairs Printing, postage and stationery Sundry Travelling Profit on disposal of equipment Property depreciation Equipment depreciation Charitable donations Playing field maintenance Sports charges Total 2021	Members activities 2021 £ 76,526 47,096 442 5,532 6,003 147 2,232 23 (6,537) 12,844 10,364 - 7,730 5,000 167,402	Charitable donations 2021 £ - - - - - - - - - - - 11,000 - - 11,000	Total funds 2021 £ 76,526 47,096 442 5,532 6,003 147 2,232 23 (6,537) 12,844 10,364 11,000 7,730 5,000
			178,402

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. Analysis of expenditure by activity (continued)

Staff costs Rates and insurance Telephone Light and heat Property equipment and repairs Cleaning Printing, postage and stationery Papers and magazines Sundry Travelling Water cooler Property depreciation Equipment depreciation Charitable donations Playing field maintenance Sports charges Total 2021	Members activities 2020 £ 149,437 16,743 1,242 7,535 10,005 434 597 455 1,508 38 249 12,844 7,005 - 6,063 4,789 218,944	Charitable donations 2020 £ - - - - - - - - - - - - - 10,127 - - 10,127	Total funds 2020 £ 149,437 16,743 1,242 7,535 10,005 434 597 455 1,508 38 249 12,844 7,005 10,127 6,063 4,789
			229,071

6. Independent examiner’s remuneration

	2021	2020
	£	£
Fees payable to the Charity’s independent
examiner for the independent examination	2,450	3,342
Fees payable to the Charity’s independent
examiner for other services	800	83

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Staff costs

	2021	2020
	£	£
Wages and salaries	72,133	143,956
Social security costs	2,850	8,356
Pension contributions	1,543	1,079
Total 2021	76,526	153,391
he average number of persons employed by the Charity during the year was as follows:
	2021	2020
	No.	No.
	6	12

The average number of persons employed by the Charity during the year was as follows:

No employee received remuneration amounting to more than £60,000 in the year.

The Key Management Personnel (KMP) of the charity are represented by the trustees and general committee who are not remunerated and the charity's secretary. During the period total KMP compensation totalled £27,256 (2020: £27,515).

Included in the wages and salary costs above, are ex gratia payments of £6,000 (2020: £Nil).

8. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020: £Nil).

During the year, no Trustee expenses have been incurred (2020: £Nil).

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

9. Tangible fixed assets

Cost or valuation At 1 January 2021 Additions Disposals At 31 December 2021 Depreciation At 1 January 2021 Charge for the year On disposals At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020	Freehold property £ 730,913 - - 730,913 171,357 12,844 - 184,201 546,712 559,556	Plant and machinery £ 158,411 37,184 (13,800) 181,795 98,583 10,364 (11,837) 97,110 84,685 59,828	Total £ 889,324 37,184 (13,800)
			912,708
			269,940 23,208 (11,837)
			281,311
			631,397
			619,384

The value for insurance purposes of the premises owned by the charity amounts to £5,339,674 (2020: £4,873,500). The trustees estimate the market value of these properties to be in excess of their book value.

The land and buildings at Brigg Street, Norwich comprise two let shops and the Society's rooms used for the direct charitable purposes. It is not possible to separately identify the investment property element and charitable element. For the purposes of property ownership, the trustees have obtained an order vesting the freehold property in the Official Custodian for Charities.

10. Freehold land and buildings at cost comprise:

Society’s rooms Brigg Street House 23.14 acre playing field at Hilltops Swardeston Sports Pavillion at Hilltops Swardeston Storage Building at Hilltops Swardeston	2021 £ 209,220 92,892 378,987 49,814 730,913	2020 £ 209,220 92,892 378,987 49,814
		730,913

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

11. Fixed asset investments

Cost of valuation At 1 January 2021 Additions Disposals Revaluations At 31 December 2021	Listed investments £ 689,591 86,751 (155,421) 44,850
	665,771

The historical cost of investments at 31 December 2021 was £373,846 (2020: £416,196).

Material investments COIF Charities Fixed Interest Fund 12. Debtors Due within one year Trade debtors Prepayments and accrued income 13. Creditors: Amounts falling due within one year Trade creditors Other creditors Accruals and deferred income	2021 £ 111,357 2021 £ 1,544 13,486 15,030 2021 £ 6,300 2,408 16,693 25,401	2020 £ 119,432
		2020 £ - 22,165
		22,165
		2020 £ 10,465 - 11,959
		22,424

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

13. Creditors: Amounts falling due within one year (continued)

Deferred income at 1 January 2021 Resources deferred during the year Amounts released from previous periods Deferred income at 31 December 2021 eferred income relates to rent received in advance. tatement of funds – current year Balance at 1 January 2021 Income Expenditure Unrestricted funds Designated funds: Cricket nets 8,596 - (1,289) Fixed asset fund 610,788 - (21,919) 619,384 - (23,208) General funds: General fund 761,878 100,851 (166,960) Total unrestricted 1,381,262 100,851 (190,168) Restricted funds: Restricted funds 2,228 - - Total funds 1,383,490 100,851 (190,168)	2021 £ 6,250 13,333 (6,250) 13,333 Transfers Gains / (losses) - - 35,221 - 35,221 - (35,221) 45,001 - 45,001 - (151) - 44,850		2020 £ 36,600 6,250 (36,600) 6,250 Balance at 31 December 2021 7,307 624,090
			631,397
			705,549
			1,336,946
			2,077
			1,339,023

Deferred income relates to rent received in advance.

14. Statement of funds – current year

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. Statement of funds – prior year

Unrestricted funds Designated funds: Cricket nets Fixed asset fund General funds: General fund Total unrestricted Restricted funds: Restricted funds Total funds	Balance at 1 January 2020 10,113 597,920 608,033 747,245 1,355,278 2,155 1,357,433	Income - - - 257,910 257,910 - 257,910	Expenditure (1,517) (18,332) (19,849) (226,756) (246,605) - (246,605)	Transfers - 31,200 31,200 (31,200) - - -	Gains / (losses) - - - 14,679 14,679 73 14,752	Balance at 31 December 2020 8,596 610,788
						619,384
						761,878
						1,381,262
						2,228
						1,383,490

15. Analysis of net assets between funds

Tangible fixed assets Fixed asset investments Current assets Current liabilities Total 2021 Tangible fixed assets Fixed asset investments Current assets Current liabilities Total 2021	Restricted funds 2021 £ - 2,077 - - 2,077 Restricted funds 2020 £ - 2,228 - - 2,228	Unrestricted funds 2021 £ 631,397 663,694 67,256 (25,401) 1,336,946 Unrestricted funds 2020 £ 619,384 687,363 96,939 (22,424) 1,381,262	Total funds 2021 £ 631,397 665,771 67,256 (25,401)
			1,339,023
			Total funds 2020 £ 619,384 689,591 96,939 (22,424)
			1,383,490

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NORWICH CHURCH OF ENGLAND YOUNG MEN'S SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. Pension commitments

Total pension contributions in the year were £1,543 (2020: £1,079). £897 (2020: £nil) was unpaid at the year end.

17. Related party transactions

There were no related party transactions during the year requiring disclosure, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2021.

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