**Company Number: 00753764 Charity Number: 229947** ## **WATFORD SHELTERED WORKSHOP LIMITED** **Report and Accounts** **for the year ended 31 March 2021** **WATFORD SHELTERED WORKSHOP LIMITED** ## **Report and Accounts** **for the year ended 31 March 2021** ## **INDEX** ## **Page Number** |1|to|3|Trustees’ (Directors) Annual Report| |---|---|---|---| |4|||Independent Examiner’s Report| |5|||Statement of Financial Activities| |6|||Balance Sheet| |7|to|13|Notes forming part of the Accounts| **WATFORD SHELTERED WORKSHOP LIMITED** ## **Company Information** ## **Company Number: 00753764** ## **Charity Number: 229947** ## **Registered Office** Century Retail Park Dalton Way Watford Herts WD17 2SF ## **Trustees** Ms M Aylward-Jones Ms G F Button Mr R I Jacob Mr P L Jones Mr P R Marsh Mr J Solomans Dr N K Tanna Mr P A Trainor Mr T J Williams ## **Accountants** Dickinsons Chartered Accountants Enterprise House Beeson’s Yard Bury Lane Rickmansworth Herts WD3 1DS ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Trustees’ (Directors’) Annual Report** ## **For the year ended 31 March 2021** ## **Trustees’ Annual Report** The trustees present their report and the unaudited accounts for the year ended 31 March 2021. The accounts have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **Structure, Governance and Management** Watford Sheltered Workshop Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 18 March 1963 (amended 23 September 2019). The company became a registered charity with the Charities Commission for England and Wales on 17 August 1966. ## _Recruitment and appointment of new trustees/directors_ The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles of Association are known as members of the charity. The board meets six times a year and considers such matters as the appointment of trustees, the financial position of the Charity, the approval of Annual Reports and Accounts and the appointment of the independent examiner. The quorum necessary for the transaction of business of the trustees is a minimum of three at the AGM and two at other times. As set out in the Articles of Association, trustees are elected to serve for three years. We have 9 Trustees, including one nominated by Hertfordshire County Council and one nominated by Watford Borough Council respectively. All members give their time voluntarily and receive no benefits from the charity. ## **Governance** ## _Staff_ Day to day management is delegated to the Chief Executive Officer. _Volunteers_ The Workshop has a number of volunteers who support the service users in different ways and bring other skills to support our work, including IT systems, developing new procedures and processes and providing training. The trustees are grateful to them for all their assistance. ## **Objectives and Activities of the Charity** The trustees consider that the charity exists for the purpose of the local public benefit as defined in Section 4 of the Charities Act 2011. The charity’s purpose as set out in the objectives contained within the company’s Memorandum and Articles of Association is to provide supported employment, work experience and skills training to people who are disabled or disadvantaged, enabling them to contribute to the community and, where possible, progress into unsupported employment. ## **Risk Assessment** In order to comply with the Statement of Recommended Practice for Charity Accounts (FRS 102) a review of the major risks to which the charity is exposed and the systems that have to be established to mitigate those risks has been carried out. The review considered external factors and procedures have been put in place to rectify those areas of potential vulnerability. These are monitored on an ongoing basis by our risk committee. Page 1 ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Trustees’ (Directors’) Annual Report** ## **For the year ended 31 March 2021** ## **Achievements and Performance** ## _Adult Care Services_ We continue to provide a Day Opportunities Service for service users referred to us by Hertfordshire County Council; Adult Care Services (ACS). Our contract has been extended to October 2021, reflecting the value that we deliver to disabled people in what is the only facility of its kind in Hertfordshire and indeed this area. We have been invited to tender to ACS for a future contract **.** ## _TESG (DWP)_ The Transitional Employer Support Grant (TESG) continues to be in place. This scheme is administered by Access to Work and includes all previous Work Choice Clients in our employ at 1st April 2019. ## **Future Developments and Strategies** Covid-19 hit us all in the UK on 23 March 2020 which was just before the previous financial year end. We did not know how this would affect us as we learnt to live with it and all the new terminology and ways of going about our daily and business lives. There has certainly been some impact on the Charity. At first many of our service users were furloughed and quite quickly some of our customers had to suspend their businesses because of the sectors they work in. We were lucky enough to be working on two “essential” products for the food supply chain and this kept us busy. The management team needs to be thanked for the incredible effort they put in to ensure that we fulfilled all the orders we were getting. Gradually orders have returned and we brought back all the furloughed staff and we are currently busy. While service users were furloughed we set up a support line to keep in contact and support their needs at this unprecedented time. We are proud to say that we have not closed for one single day since lockdown began and that is a tribute to Linda and her team. The branch in High Wycombe is busy too with local recruitment now in place. As we now prepare for the “new normal” we constantly assess the full impact of Covid-19. We hope that all our customer businesses survive intact and continue to use our services and at the same time we are welcoming new customers. We have set a realistic sales target of £250,000 for the next financial year. The trustees and managers are continuing their initiatives to expand the charity’s sales and its visibility in the business community at what is a difficult time for everyone. ## **Fundraising** This continues to be a core activity. It has been a very successful year for us in terms of fundraising from Trusts, events and sponsorship. This activity is vital to support the day to day activities of the charity including the life and independent living skills training we offer. ## **Financial Review** The Statement of Financial Activities for the year is set out on page 5 of the accounts. The trustees have established a policy to build up unrestricted reserves to a level to support the charity’s core expenditure for a period of six to twelve months. At the year-end unrestricted reserves amount to £537,664 (2020: £269,545). Restricted reserves amounted to £98,017 (2020: £93,802). The result for the year is a surplus of £268,119 on unrestricted funds (2020: £42,071). The trustees consider the result for the year to be satisfactory and take the view that the Charity is now properly capitalised. ## _Investment Policy_ Under the Memorandum and Articles of Association the charity has the power to invest in any way the trustees wish. The trustees, having regard to liquidity requirements, have, to date, operated a policy of keeping available funds in interest bearing deposit accounts. ## **Statement of Trustees’ Responsibilities** The trustees, who are also the directors of Watford Sheltered Workshop Limited for the purpose of company law, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 2 WATFORD SHELTERED WORKSHOP LIMITED Trustees, (Directors?) Annual Report r(or ¢heyear ended 31 March 2021 Conipany law IEquires the ttwstees, to prepare Rccounls for each finanGial year, which give a true and fair vi¢w of the state of affairs of the dL2rilable company and of the incoming resources and application of ￿soUrCes. including the in¢ome and expenditUlE, of the charitable ¢ompany for ihat year. Ill p&rparit]g these accouEJts the trustees ar¢ required to.. se1￿1 suitable accounting policies and th¢n apply them consistently. Observe the methods &nd principles tn the Charities SORP,. Mike judgements and ¢stiJnat¢s that are rea50TiAble and prudent; Prepare the acoounts on tl* going ¢on¢em basis unlw it is iE)appropriate to presume that th¢ company will eontinue in business. The trustees are r¥sponsibl¢ for keepit]g proper ac¢ounting records which disclos¢, with reasonable a￿urd¢Y at any time, tlie fijiancial position of the ¢ompany and to ellable them to ¢n5uTr the a¢¢ounts hav¢ bew propcrly prepAred in accordance with the w￿ViSiOjiS of the CompaTrie5 Act 2006. They are also responsible for safeguarding the assets of the ¢ompany atad h¢ncB for taking reasonable steps for th¢ p￿v¢n(lon and detection of fraud and other irregularities. Legal #nd Administrntiv¢ InfornTrgti011 Tlie ¢oiMpaAy is limitsd by guarantee &nd has no share capital. Urtdei. the provisions of the eompathy's memornndum of essO¢iati(￿, cach member would be required to ¢oiifribLtte a svtn not exceeding £1 foy th¢ paym¢nt ofthe debts of the ¢ompany in the ev¢nl of a deficiency of assets on a Mynding up of th¢ company. The ¢ompany is i'egi5tered in F.ngland and Wales with company rewstsation number 00753764, 15 a registered Charity ursder tli¢ C.hKrili¢g A¢t 201 I with registration number 229947. Ti'uslees Director5 The t￿Stee$ who serve<[ di￿1￿8¢￿¢ yr4r were: Mich¢lle Aylwafd-Jones Frances Buttoi) RonnÉe Jacob Peter Jot)es Paul Marth Jonali Solomoi)s Nuttati Tatuia Paul Ti?inor Tim Williatll5 Key M#iiag¢inent Person￿¢1 Lii)da MGlntyTe Gill NighÉingal¢ MussaTat ParYe¢n Hassan Javid Chief EX￿Utive Partneyship Manager Workshop Mana8¢Y D¢velopm¢nt Manager The Directors hRv¢ taken advanta8¢ of se￿10￿ 477(2) of ihe Companies Act 2006 which ¢x¢mpt$ the company from th¢ requirement 10 have the a¢counts audited. The Company is requir¢d to h&v¢ an Independcnt Examination in Etceordanee with the provisious in the Charities Act 2011. Accordingly, Natalie Spalton FCA of Dickinsons. Chartered Accountants, was eppointed Independ¢nt Examiner. By Order of the Board., /4 Mr P Jon¢s Trustee ¥nd Direetor Date Page 3 WATFORD SHELTERED WORKSHOP LIMITEI D Independent Examiner's Report to the Tyustees of Wydtford Sbeltered Workshop Limited for the year ended 31 M#i'¢h 2021 I reporL to tbe Charity trustees on my examination of the accounts of the Cl)aritab16 Comp&ny for the year ended 31 Marth 2021. Responslbilities and basls of report As the charity's h￿ste¢5 {who ar¢ alSD the dir¢ctors of tlie company for th¢ pU￿oSe of CoMpa￿Y law), you are responsible for the preparation of the aceoujits in a¢rordance with the requiiEments of the Companies Act 2006 (the 2006 Aot") Having satisfied myself that th6 accounts of the CoEnpany are not IEquiYed to be audited for this year linder pyrt 16 of the 2006 Act d ¢ligible for indep¢Jdent examination, l i'eport in respect of lliy ¢xamination of your chai'ity's aCCOUDls as carri¢d out uiider sectson 145 ot cl)arities A¢t 2011 {"tho 2011 Act"). IT) canying out my examination, I hav¢ followed the Directions given by ¢hc Charity Commission (undey SECtion 14S(51(b) of the 2011 AGt). Indepolldent examiRei-'s Statement The company's gross income exceeded £250.000 aAd l am qualified to undertake the examination by being a qualified membei. of the ICAEW. I have completed my examination. I confllin Éhal no material inatters have Come to Tlly attention which gives m¢ cause to believe that.. Accounting records were kept in accordance with sectiot) 386 of the Companies Ad 2Q06- or The accounts do llot accord with such i'ecord5' OT The accounts do not comply with Yeltvant accounting reqUir￿llents under section 396 of the Companies Act 2Q06 othei. thaD the accounts give a'true and fair, vi¢w which is not a matter considcred as part of an illdependent examiDation' or The accounts have not been prepared in ￿cOrdanC¢ with the charities SORP IFRS1021. I have no conctsms &Dd have coine aciK)ss no otl)ei' tllatt¢r5 connection with the examination to which attentioii should b¢ drawn Ihis repoit in order to enabl¢ a proper understanding of the accounts to be l'eached, Natalie alton FCA Dickinsons Chaitered Accountants EnteAyrise FIouse Beeson's Yard Bury Lane Rickniansworth Herts WD3 IDS Date:... P&s¢'. 4 ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Statement of Financial Activities (Statement of Income and Retained Earnings)** ## **for the year ended 31 March 2021** |**Incoming resources from:**
**Notes**
Donations and legacies
**2**
Charitable activities
**3**
Investments
Donated services
Adult Care clients
**Total Incoming Resources**
**Resources expended from:**
Costs of charitable activities
**4**
**Total resources expended**
**Net movements in funds**
**10 & 11**
Total Surplus at 1 April 2020
**Total Surplus at 31 March 2021**|**2021**
**Unrestricted**
**Funds**
**£**
324,356
490,576
1,689
39,264
3,014
858,899
(590,780)
(590,780)
268,119
269,545
537,664|**2021**
**Restricted**
**Funds**
**£**
107,245
-
-
-
-
107,245
(103,030)
(103,030)
4,215
93,802
98,017|**2021**
**Total**
**Funds**
**£**
431,601
490,576
1,689
39,264
3,014
966,144
(693,810)
(693,810)
272,334
363,347
635,681|**2020**
**Unrestricted**
**Funds**
**£**
51,343
487,037
1,708
39,264
5,383
584,735
(542,664)
(542,664)
42,071
227,474
269,545|**2020**
**Restricted**
**Funds**
**£**
235,223
-
-
-
-
235,223
(211,838)
(211,838)
23,385
70,417
93,802|**2020**
**Total**
**Funds**
**£**
286,566
487,037
1,708
39,264
5,383| |---|---|---|---|---|---|---| |||||||819,958| |||||||(754,502)| |||||||(754,502)| |||||||65,456
297,891| |||||||363,347| The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations. _The notes on pages 7 to 13 form part of these accounts._ Page: 5 WATFORD SHELTERED WORKSHOP LIMITED Company Number: 00753764 Charity Number: 229947 Balajice Sheet as at 31 Mar¢h 2021 Nott5 2021 2020 Fixed Assets Tangibl¢ fixed assets Current A5$ets Debtors Cash at bank and in hand 95,012 569,561 95.932 285.532 664,573 Creditors: Amounts fallin8 due within onc year 381.464 128,892) (18.117) Net Current Assets 635,681 363,347 Totsl Assets t&ss Current LIAbilities 635,681 363,347 Fullds of the Charity Unrestricted Income Funds Restricl¢d Funds io li 537,664 9&017 269.545 93.802 Totsl Cb8rity Funds 635,681 363.347 The company is entitled to exemption from audit under Secti(ll 477 ofthe comparti￿ Act 2006 forihe year ¢nded 31 March 2021. The In¢nib¢rs have not required the ¢omp8ny to obtain an audit of its financiAI ststements for the ye￿. end¢d 31 Mairh 2021 in Rccordance with Sedion 476 of the Companies Act 2006. The diifctors a¢knowledge their responsibilities for.. (a) ensuring thjl the company keeps 8¢¢OUnting reoords which Comply with Seetions 386 and 387 of the Companies Act 2006 and (b) preparii)g financial statements which give a lrn¢ and fair view of th¢ state of affairs of the ￿MpanY as at the end of each financial year and of ils surplus or defi¢it for each financiel year im accordance with the reqiiirements of S¢¢lioii8 394 8nd 395 and which otherwis¢ ¢omply with the requirements of the Companies A¢t 2006 relating to [￿anCIal statem¢nls. so far as applicable to tEL¢ ¢ompany. The financial statements havebeen prepared in a¢¢ordance Mqth thepr(>visions of Part15 ofthe CompanÉ¢sAct2006 relating to small coinpanies. The financial statements were app1'ov￿1 by the Board of Directors on .lty¥. and wer¢ signed on its behalf by.. Mr P Jon¢s The ntples 0￿Puse5 7 to 13forthport of¢hese acco￿￿11$. Pag¢- 6 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** **for the year ended 31 March 2021** ## **1 Principal Accounting Policies** ## _**Company Information**_ Watford Sheltered Workshop Limited is a private charitable company limited by guarantee, incorporated in England & Wales. The registered office and trading address is at Century Retail Park, Dalton Way, Watford, Herts, WD17 2SF. ## _**Accounting Convention**_ The accounts have been prepared under the historical cost convention, the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with; the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011. The accounts include the results of the company’s operations, which are described in the Trustees’ Annual Report, all of which are continuing. The charity constitutes a public benefit entity as defined by FRS 102. ## _**Going Concern**_ The accounts have been prepared on a going concern basis which assumes that the charitable company will continue to operate for the foreseeable future. This is based on the Trustees and Directors opinion that the activity will continue to grow with increased publicity and support of their charitable activities. Having considered the current and anticipated economic impact of Coronavirus on the company’s activities the directors have adopted the going concern basis of accounting in preparing the financial statements; the directors are satisfied the company has sufficient reserves and access to the financial support necessary to meet working capital requirements and enable the company to remain in operational existence for the foreseeable future. If the charitable company were unable to continue to operate adjustments would be made to provide for any further liabilities which may arise. ## _**Incoming Resources**_ All incoming resources are included in the Statement of Financial Activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income from grants and other donations which are of a voluntary nature are recognised when the charitable company has been notified in writing of both the amount and settlement date and receipt is probable. Grants received for future accounting periods are deferred. Income from grants, and similar income where conditions for payment are linked to performance, are recognised to the extent that the charity has met the recognition criteria. Income from charitable trading activities is recognised when the related goods and services have been completed and dispatched. Income from donated services and facilities are recognised when the charitable company utilises the facilities with the fair value being recognised as incoming resources and expended resources simultaneously, as appropriate. ## _**Resources Expended**_ Expenditure is accounted for on an accruals basis, recognised when a liability is incurred, and classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. The Charity constitutes a public benefit entity as defined by FRS 102. ## _**Cash and Cash Equivalents**_ Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks. Page: 7 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## _**Basic Financial Assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cost and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic Financial Liabilities**_ Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. ## _**Fund Accounting**_ Unrestricted funds are those which are unrestricted and are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the accounts. ## _**Tangible Fixed Assets**_ Tangible fixed assets are held at cost less depreciation. Depreciation is recognised so as to write off the cost less estimated residual value of each asset over their useful lives on the following basis: Plant and Machinery 20% on cost Fixtures and fittings between 20% and 25% on cost Motor vehicles 20% on cost ## _**Government Grants**_ Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met, and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. ## **2 Donations and legacies** |**Donations and legacies**||| |---|---|---| ||**2021**|2020| ||**£**|£| |**Donations**||| |Councillor’s Locality|8,000|-| |HCC|2,640|-| |Waitrose|1,000|-| |Wenzel the Baker|5,000|-| |My Local|2,000|-| |West Watford Golfing Society|-|2,500| |Murrill Construction Limited|-|6,500| |Merchant Taylors School|-|2,500| |Warner Brothers|10,000|8,000| |HCF|24,000|-| |Betty Messenger Charitable Foundation|60,000|-| |National Lottery|7,460|-| |RBS/Natwest|28,000|-| |Julia & Hans Rausing Trust|20,000|-| |John Lewis Foundation|14,250|-| |Government covid job retention scheme grant|90,539|-| |Other organisations|28,047|5,944| |Individuals|23,420|25,899| ||_______|_______| ||324,356|51,343| ||=======|=======| Page: 8 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** |**2**|**Donations and legacies (Continued)**||| |---|---|---|---| |||**2021**|2020| |||**£**|£| ||**Grants from institutions:**||| ||Murrill Construction Limited|-|8,500| ||Vinci Foundation|6,150|-| ||Thrive Homes|2,000|3,000| ||ACT Foundation|-|12,500| ||ERNST Trust|5,000|7,500| ||Betty Messenger Charitable Foundation|60,000|138,000| ||Other organisations|11,595|9,580| ||Investec|-|5,000| ||Co-op|-|2,143| ||29thMay 1961 Charitable Tust|-|4,000| ||Garfield Weston|-|45,000| ||West Herts Golf Society|7,500|-| ||LH&E Cost Consultancy|5,000|-| ||Edward Gostling Foundation|10,000|-| |||_______|_______| |||107,245|235,223| |||=======|=======| |**3**|**Income from charitable activities**||| |||**2021**|2020| |||**£**|£| ||Charitable trading|303,637|283,452| ||Grants received for charitable trading purposes:||| ||Employment Services Grant|107,585|127,357| ||Training service payments|79,354|76,228| |||_______|_______| |||490,576|487,037| |||=======|=======| |**4**|**Resources Expended: Charitable Activities**||| |||**2021**|2020| |||**£**|£| ||Direct activity costs:||| ||Wages|383,958|348,665| ||Materials|4,239|3,993| ||Support costs:||| ||Staff salaries|202,980|180,571| ||Rent|39,264|39,264| ||Water rates|1,106|919| ||Electricity and gas|6,904|7,558| ||Printing, stationery and advertising|455|1,698| ||Postage and telephone|2,625|2,489| ||Motor and travelling expenses|3,820|2,463| ||Repairs and maintenance|23,769|4,240| ||General expenses|6,972|9,002| ||Insurance|8,022|7,247| ||Bank charges|1,482|503| ||Bad debt|-|7,163| ||Professional fees|554|4,947| ||Training, health and safety|771|35,158| ||Computer expenses|3,205|3,537| ||Depreciation of tangible fixed assets|-|893| ||Mezzanine costs|2,309|92,842| Page: 9 ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## **4 Resources Expended: Charitable Activities (Continued)** |**4**|**Resources Expended: Charitable Activities (Continued)**||| |---|---|---|---| ||_Governance_||| ||Independent examination|1,375|1,350| |||________|________| |||693,810|754,502| |||========|=======| |**5**|**Net movement in funds:**||| ||Net movement in funds is stated after charging:||| |||**2021**|2020| |||**£**|£| ||Independent Examiner’s remuneration|1,375|1,350| ||Depreciation of tangible fixed assets|-|893| |||=======|=======| |**6**|**Employees**||| ||The average monthly number of persons employed by the company during the year was:||| |||**2021**|2020| |||**Number**|Number| ||Administrative staff|10|10| ||Factory staff|35|35| |||_______|_______| |||45|45| |||======|=====| ||The aggregate remuneration comprised:||| |||**2021**|2020| |||**£**|£| ||Wages|373,917|341,970| ||Salaries|182,218|162,206| ||Social security costs|23,071|18,321| ||Pension costs|7,732|6,739| |||_______|_______| |||586,938|529,236| |||=======|=======| **6 Employees** No individual employee’s total benefits exceeded £60,000 during the year (2020: None). No trustees’ expenses have been incurred during the year (2020: None). Total employee benefits including pension contributions of the key management personnel were £95,723 (2020: £93,331). Page: 10 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## **7 Tangible fixed assets** |**7**|**Tangible fixed assets**||||| |---|---|---|---|---|---| |||**Plant and**|**Fixtures and**|**Motor**|**Total**| |||**Machinery**|**Fittings**|**Vehicles**|| ||**Cost**||||| ||At 1 April 2020|23,504|27,352|23,535|74,391| |||_______|_______|_______|_______| ||At 31 March 2021|23,504|27,352|23,535|74,391| |||=======|=======|=======|=======| ||**Depreciation**||||| ||At 1 April 2020|23,504|27,352|23,535|73,391| ||Depreciation charged in the year|-|-|-|-| |||_______|_______|_______|_______| ||At 31 March 2021|23,504|27,352|23,535|74,391| |||=======|=======|=======|=======| ||**Carrying amount**||||| ||At 31 March 2021|-|-|-|-| |||=======|=======|=======|=======| ||At 31 March 2020|-|-|-|-| |||=======|=======|=======|=======| |**8**|**Debtors**||||| |||||**2021**|2020| |||||**£**|£| ||Trade debtors|||75,308|77,524| ||Other debtors and prepayments|||19,704|18,408| |||||________|________| |||||95,012|
95,932| |||||=======|=======| |**9**|**Creditors: amounts falling due within one year**||||| |||||**2021**|2020| |||||**£**|£| ||Trade creditors|||543|2,310| ||Other creditors|||707|6,808| ||Taxation and social security costs|||24,173|6,349| ||Accruals and deferred income|||3,469|2,650| |||||________|________| |||||28,892|
18,117| |||||=======|=======| |**10**|**Unrestricted Funds**||||| ||||**At 1**|**Net**|**At 31**| ||||**April**|**Movement**|**March**| ||||**2020**|**in Funds**|**2021**| ||||**£**|**£**|**£**| ||Unrestricted Funds – General Fund||269,545
|268,119|537,664| ||||=======|=======|=======| Page: 11 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** **for the year ended 31 March 2021** ## **11 Restricted Funds** |**stricted Funds**||||| |---|---|---|---|---| ||**At 1**|||**At 31**| ||**April**|||**March**| ||**2020**|**Income**|**Expenditure**|**2021**| ||**£**|**£**|**£**|**£**| |Watford Community Housing Trust|-|4,795|(4,795)|-| |Vinci Foundation|-|6,150|(6,150)|-| |Screwfix Foundation|-|4,800|(4,800)|-| |West Watford Golf Society|-|7,500|-|7,500| |LH&E Cost Consultancy|-|5,000|-|5,000| |Edward Gostling Foundation|-|10,000|-|10,000| |Thrive Homes|-|2,000|(1,000)|1,000| |Shanly Foundation|-|2,000|(833)|1,167| |Betty Messenger Charitable Foundation|43,159|60,000|(62,309)|40,850| |The Neighbourly Charitable Trust|583|-|(583)|-| |Garfield Weston|42,500|-|(15,000)|27,500| |Ganett Foundation|2,560|-|(2,560)|-| |ERNST Trust|5,000|5,000|(5,000)|5,000| ||_____|______|______|_____| ||93,802|107,245|(103,030)|98,017| ||======|=======|======|======| The charity received £14,000 (2020: £65,330) from various organisations during the year, restricted for use in training and work skills. Of these funds, £17,416 was utilised during the year £15,583 of which was bought forward, with the remaining £12,167 being carried forward to the next financial year. The charity received £50,000 (2020: £55,000) during the year from various organisations, restricted for funding wages. Of these funds, £65,000 was utilised during the year £40,000 of which was bought forward, with the remaining £25,000 being carried forward to the next financial year. The charity received £Nil (2020: £74,000) during the year from various organisations, restricted for the installation of a mezzanine floor. Of the funds brought forward, £2,309 was utilised during the year, with the remaining £5,849 being carried forward to the next financial year. The charity received £15,745 (2020: £Nil) during the year from various organisations, restricted for the maintenance of the charity’s premises. Of these funds all were utilised during the year in addition to £2,560 brought forward from the prior year. The charity received £27,500 (2020: £Nil) during the year from various organisations, restricted for the purchase of a new van. Of these funds, none were utilised during the year as a result £27,500 is carried forward to the next financial year. ## **12 Funds received as agent** During the year the charity received funds amounting to £4,330 (2020: £26,521) from Access to Work on behalf of individual staff to purchase specialised equipment and training. Resources expended in the year amounted to £4,330 (2020: £26,521) and there were no balances held as agent at the year end. All equipment purchased remains the property of the individuals concerned. Page: 12 ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## **13 Called up share capital** The company is limited by guarantee and has no share capital. Under the provisions of the company’s memorandum of association, each member would be required to contribute a sum not exceeding £1 for the payment of debts of the company in the event of a deficiency of assets on a winding up of the company. ## **14 Control** The charity has been controlled throughout the year by the trustees, who are identified in the company information. ## **15 Transactions with Trustees and Related Parties** None of the trustees have been paid any remuneration or received any other benefits from employment with the Charity or any related entity. There have been no related party transactions during the year that require disclosure. Page: 13