**Company Number: 00753764 Charity Number: 229947** ## **WATFORD SHELTERED WORKSHOP LIMITED** **Report and Accounts** **for the year ended 31 March 2022** **WATFORD SHELTERED WORKSHOP LIMITED** ## **Report and Accounts** ## **for the year ended 31 March 2022** ## **INDEX** ## **Page Number** |1|to|3|Trustees’ (Directors) Annual Report| |---|---|---|---| |4|||Independent Examiner’s Report| |5|||Statement of Financial Activities| |6|||Balance Sheet| |7|||Statement of Cash Flows| |8|to|14|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 J Solomans 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 2022** ## **Trustees’ Annual Report** The trustees present their report and the unaudited accounts for the year ended 31 March 2022. 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 (awaiting reappointment) 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 2022** ## **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 2022, reflecting the value that we deliver to disabled people in what is the only facility of its kind in the area and indeed in Hertfordshire. We have successfully tendered for a new project, which we have named “Springboard” by which we will be able to bring in more service users who fall through the cracks in society and who do not have a care package. This project started in April 2022. ## _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 is still around and affects us from time to time with absences for staff and service users while they recover. We have strategies in place to monitor infections and staff are very diligent in observing the set rules. The last two years have left us with some customers who have reduced activity, others who are going from strength to strength and some new customers coming on board. The branch in High Wycombe is doing very well. We actively encourage new business and our team is to be congratulated on achieving an amazing sales figure in very difficult times. We have set a realistic sales target of £300,000 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 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 £550,885 (2021: £537,664). Restricted reserves amounted to £72,251 (2021: £98,017). The result for the year is a surplus of £13,221 on unrestricted funds (2021: £268,119). 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 as 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 SHELTCI RED WORKSHOP LIMITED Trustees, IDlreetor8') Annual Report For the year ended 31 Marth 2022 Compally law requires th¢ trustces. to prepare accounts foreach financial year, whicb givr a true and fairview of the state of affairs of tbe eh8ritgble coinpany of the incoming rewurces and application of lys0￿r¢￿ ijjcllldiiig the incojne alld expenditurc. of the chaiitable company for that ycai.. plyp￿ing th&8t accoiints thc trnstces arc requiycd to.. Select suitable acwuiiting policies and then apply them CDnsislenilyJ Obscrvc th¢ iii¢thods aiid prÉLiciples iii the ChaTlti¢s SORP. Make judgements and ¢stit])ates that are r¢a8onable aiid prudent. Prepai"e the e￿O￿llts on th¢ going concern basis unlcss it Is inappropri&tc tD prc5umc Ihat Éhc company will continuc in bu8in&%& Tlie Iruslees are responsible for keq)ittg pn)pcr accounlirtg ireoixls which disclose, with r¢zsollable ttGcuracy ol lime, Ihe financial position of the company and in ill accordanee Ihe provisions itt ITrLe Chaiiiits Art 2011. Accordingly. Natalie Swal￿n FCA of DÈGkinsons, Chartcred AccDunlants, was appoiiited Independent Exainitier. By (J-d¢r of th¢ Boai(l- r P Trainor Ti'ustee Aiid Dlreetor Datc Pago 3 WATFORD SHELTERED WORKSHOP LIMrrED Independent Examiner's Report lo the Trustees of Walford Sheltered Workshop Limited for the year ended 31 Mareh 2022 I worl to the charity trustees on my examination of the aC￿Ullts of thE ChaiitablE Company for the year ellded 31 Mar¢h 2022. R&¥pollsibilitie$ b8si$ of report As the charity's trustees (who are also the direth)rs of the ¢trmpany for the pujpose of company law), you are respottsible for th¢ p¥epaYation of the accounts in accordallG¢ with Éhe requirements of the Companies Act 2000 (the 2006 Acv,) Having satisfied myself that the accounts of the Company are not required to be audited fr)r this year under part 16 of the 2006 Act &nd are eligible for independent examinati04J, I rep)rt in r¢sp￿t ofmy examiiiation of your Ghai'ity's accounts as carried oul under srGtion 145 of charities ACÉ 2011 {"the 2011 Act"). Ill carrying out my examination, I have followed tbe Dire¢tions given by the Charity Commission (llnder se¢tion 14515)(b) of the 2011 Act). llldepcndellt examiner's statement The ￿mpanY'S gross iTrcotne excecded £250,000 alld l am qualified to undertake the examination by beillg a qualifEed member of the ICAEW. I have completed my examillation. l eonfirni that no mat¢rial matters have Gom¢ to my attention which gives me ￿use to believe that: Accounting records were not kept in awoTdanG¢with section 386 ofthe Companies A¢t 2006- or Th¢ Rcrounts do not accord witb such records; or The accounts do not comply with relevant ac¢oiinting requiremeAts under se￿10￿ 396 of the Comp8nies 2006 other than thc accowit% gtVB a'true and fair, view which is not a matter c0115idtred as part of ar] independent examination. or The accnijnts have Dot bern p￿para in accordance with the charities SORP (FIIS102). J have Tro GQllC£mS and h&ve come across no otherniatters in conllection wtth the examittation to which atEention 5hollld be di7wn in this report in order to en&ble a pL￿per understanding of the accounts to be rnaGlied. Nata]ie Spalton FCA Dick5nsons Chartered Accountsnts EThterpt7se Hous¢ Beeson's Yard Rury l.an Rickniansworth H¢rts WD3 IDS Date.. Pag¢'. 4 ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Statement of Financial Activities (Statement of Income and Retained Earnings)** ## **for the year ended 31 March 2022** |
**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 income/(expenditure)**
Transfers between funds
**6**
**Net movements in funds**
**11 & 12**
Total Surplus at 1 April 2021
**Total Surplus at 31 March 2022**|**2022**
**Unrestricted**
**Funds**
**£**
51,637
554,397
1,438
39,264
3,061
649,747
(668,316)
(668,316)
(18,519)
31,740
13,221
537,664
550,885|**2022**
**Restricted**
**Funds**
**£**
117,806
-
-
-
-
117,806
(111,832)
(111,832)
5,974
(31,740)
(25,766)
98,017
72,251|**2022**
**Total**
**Funds**
**£**
169,443
554,397
1,438
39,264
3,061
767,603
(780,148)
(780,148)
(12,545)
-
(12,545)
635,681
623,136|**2021**
**Unrestricted**
**Funds**
**£**
324,356
490,576
1,689
39,264
3,014
858,899
(590,780)
(590,780)
268,119
-
268,119
269,545
537,664|**2021**
**Restricted**
**Funds**
**£**
107,245
-
-
-
-
107,245
(103,030)
(103,030)
4,215
-
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
-| |||||||272,334| |||||||363,347| |||||||635,681| The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations. _The notes on pages 8 to 13 form part of these accounts._ Page: 5 WATFORD SHELTERED WORKSHOP LIMITED Clbmpany Number: 00753764 Charlty Nupibey: 229947 Balanee Sheet as at 31 March 2022 Notes 2022 2021 FSxed kntts Tangible fjxed 8S5els 28,566 Cun'ent A5set4 Dtblors Cash at bank *rtd iii hand 94,898 563,206 95,012 569,561 658,104 664.573 Crcditors: Aniounls fallinbF duE within on¢ ycar io 163,5341 128.892) N¥t Cwrr¢nt Assets 594,S70 635.681 Totgl As$et$ Les$ Currtnt LiRbilities 623,136 635.6SI Funds of the Unir%li'icted Income Fllndg ResiriLted Funds 550.885 72.251 537,664 98,017 12 Total Chsrfty 623,136 635.681 The conipany is enlitlcd to ¢xempliort from auditllttder SeciiDn477 tsfthe Compalli¢s Aci 20U6 for theyearended 31 hlarch 2U22. The me￿￿1.S have not reqU￿T¢dth¢eoIllpa￿Y to obtaiii an audit of its fJnantiAI stalcmenis foy the yearettded 31 MaTch 2022 iti with Section 476 of Ihc Compani¢s knt 2006. The dIrect￿S acknowledg¢ respotksibiiities for. lal engwi￿￿ thai the cojiipaoy kccps accO￿￿tIng r¢¢oYit8 wphich Comply with Sections 386 and 387 of the Comipanies Aci 2006 and Ibl pErpaTinui financikl sraletnernts which give a true al￿ fair viuv of the slalc of affgiis ofthe coinpany &s at the end or each finanGial ycai. and of its sui'plus oi. deficit for each financial yeii. itt atcordanee with tlic iwuij'cments of Sections 394 and 395 and whielj otheywise coniply with the requiremeJJts of the C¢Jtsipaftic5 2006 Irlatillg lo fEnallcial 81&tuncnts, so far as applirabl¢ to di¢ cojnpally. The fin&ncial slatements havebeenprepated inrt¢cotdanc¢ ivith the provA5%0llsof Part 15 ofdie CoiJipaniesAct2006 ielalÈng to sinall ti)Inpanie8. The fin&ncial staicinenis appi'oved by the Boai'd of Directors on nd W¢T¢ siwied on ils behalf by.. R Jacob Mr P Trninor flie iioles ollpoges & 10 13foi?ftJP4)I'l of fhe.ve £lCCOUFIIs. Page.. 6 ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Statement of Cash Flows** ## **for the year ended 31 March 2022** |**Notes**
**Cash flows from operating activities**
Cash generated by operations
**17**
**Net cash inflow from operating activities**
**Investing activities**
Interest from investments
Proceeds on sale of tangible fixed assets
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Financing activities**
Repayment of bank loans
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2022**
**£**
**£**
22,280
22,280
1,438
1,667
(31,740)
(28,635)
-
-
(6,355)
569,561
563,206|**2021**
**£**
**£**
282,340
282,340
1,689
-
-
1,689
-
-
284,029
285,532
569,561|**2021**
**£**
**£**
282,340
282,340
1,689
-
-
1,689
-
-
284,029
285,532
569,561| |---|---|---|---| ||1,438
1,667
(31,740)|1,689
-
-|| ||-|-|| ||||| ||||284,029
285,532| ||||569,561| _The notes on pages 8 to 13 form part of these accounts._ Page: 7 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** **for the year ended 31 March 2022** ## **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. 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. ## _**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. Page: 8 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2022** ## _**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 10% 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**||| |---|---|---| ||**2022**|2021| ||**£**|£| |**Donations**||| |Councillor’s Locality|2,650|8,000| |HCC|-|2,640| |Waitrose|-|1,000| |Wenzel the Baker|-|5,000| |My Local|-|2,000| |Childwick Trust|7,500|-| |Sir Jules Thorn Trust|1,500|-| |Watford Borough Mayors Fund|2,400|-| |Warner Brothers|-|10,000| |HCF|5,000|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|10,024|90,539| |Other organisations|1,720|28,047| |Individuals|20,843|23,420| ||_______|_______| ||51,637|324,356| ||=======|=======| Page: 9 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2022** ## **2 Donations and legacies (Continued)** |**2**|**Donations and legacies (Continued)**||| |---|---|---|---| |||**2022**|2021| ||**Grants from institutions:**|**£**|£| ||Baily Thomas Charitable Trust|10,000|-| ||Vinci Foundation|-|6,150| ||Thrive Homes|-|2,000| ||Watford & Three Rivers Trust|9,000|-| ||ERNST Trust|-|5,000| ||Betty Messenger Charitable Foundation|50,000|60,000| ||Other organisations|25,806|6,800| ||Paradigm Housing|8,000|-| ||Watford Community Housing Trust|5,000|4,795| ||Peter Cruddas Foundation|5,000|-| ||HCF Police and Crime Commissioner|5,000|-| ||West Herts Golf Society|-|7,500| ||LH&E Cost Consultancy|-|5,000| ||Edward Gostling Foundation|-|10,000| |||_______|_______| |||117,806|107,245| |||=======|=======| |**3**|**Income from charitable activities**||| |||**2022**|2021| |||**£**|£| ||Charitable trading|353,285|303,637| ||Grants received for charitable trading purposes:||| ||Employment Services Grant|112,212|107,585| ||Training service payments|88,900|79,354| |||_______|_______| |||554,397|490,576| |||=======|=======| |**4**|**Resources Expended: Charitable Activities**||| |||**2022**|2021| ||Direct activity costs:|**£**|£| ||Wages|427,855|383,958| ||Materials|2,954|4,239| ||Support costs:||| ||Staff salaries|217,758|202,980| ||Rent|39,264|39,264| ||Water rates|(171)|1,106| ||Electricity and gas|10,805|6,904| ||Printing, stationery and advertising|1,230|455| ||Postage and telephone|2,489|2,625| ||Motor and travelling expenses|4,901|3,820| ||Repairs and maintenance|7,535|23,769| ||General expenses|24,951|6,972| ||Insurance|10,159|8,022| ||Bank charges|1,631|1,482| ||Profit on disposal of tangible fixed asset|(1,667)|-| ||Professional fees|1,780|554| ||Training, health and safety|20,485|771| ||Computer expenses|3,515|3,205| ||Depreciation of tangible fixed assets|3,174|-| ||Mezzanine costs|-|2,309| ||_Governance_||| ||Independent examination|1,500|1,375| |||_______|________| |||780,148|693,810| |||========|=======| Page: 10 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## **5 Net movement in funds:** |Net movement in funds is stated after charging:||| |---|---|---| ||**2022**|2021| ||**£**|£| |Independent Examiner’s remuneration|1,500|1,375| |Depreciation of tangible fixed assets|3,174|-| ||=======|=======| ## **6 Transfers between funds** Donations restricted for the purchase of a new van have been brought forward within restricted reserves. In the current year the van was purchased and, as supported by the Charities SoRP (para.2.26), has been transferred to unrestricted reserves. The transfer amounts to £31,740 and is the only transfer in the current financial year. ## **7 Employees** The average monthly number of persons employed by the company during the year was: ||**2022**|2021| |---|---|---| ||**Number**|Number| |Administrative staff|9|10| |Factory staff|38|35| ||_______|_______| ||47|45| ||======|=====| |The aggregate remuneration comprised:||| ||**2022**|2021| ||**£**|£| |Wages|415,034|373,917| |Salaries|195,335|182,218| |Social security costs|26,898|23,071| |Pension costs|8,346|7,732| ||_______|_______| ||645,613|586,938| ||=======|=======| No individual employee’s total benefits exceeded £60,000 during the year (2021: None). No trustees’ expenses have been incurred during the year (2021: None). Total employee benefits including pension contributions of the key management personnel were £84,814 (2021: £95,723). Page: 11 **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## **8 Tangible fixed assets** ||||**Plant and**|**Fixtures and**|**Motor**|**Total**| |---|---|---|---|---|---|---| ||||**Machinery**|**Fittings**|**Vehicles**|| ||**Cost**|||||| ||At 1 April 2021||23,504|27,352|23,535|74,391| ||Additions in the year||-|-|31,740|31,740| ||Disposals in the year||-|-|(23,535)|(23,535)| ||||_______|_______|_______|_______| ||At 31 March 2022||23,504|27,352|31,740|82,596| ||||=======|=======|=======|=======| ||**Depreciation**|||||| ||At 1 April 2021||23,504|27,352|23,535|73,391| ||Depreciation charged in the year||-|-|3,174|3,174| ||Depreciation eliminated on disposal||-|-|(23,535)|(23,535)| ||||_______|_______|_______|_______| ||At 31 March 2022||23,504|27,352|3,174|54,030| ||||=======|=======|=======|=======| ||**Carrying amount**|||||| ||At 31 March 2022||-|-|28,566|28,566| ||||=======|=======|=======|=======| ||At 31 March 2021||-|-|-|-| ||||=======|=======|=======|=======| |**9**|**Debtors**|||||| ||||||**2022**|2021| ||||||**£**|£| ||Trade debtors||||76,335|75,308| ||Other debtors and prepayments||||18,563|19,704| ||||||________|________| ||||||94,898|
95,012| ||||||=======|=======| |**10**|**Creditors: amounts falling due within one year**|||||| ||||||**2022**|2021| ||||||**£**|£| ||Trade creditors||||4,245|543| ||Other creditors||||351|707| ||Taxation and social security costs||||19,185|24,173| ||Accruals and deferred income|**18**|||39,753|3,469| ||||||________|________| ||||||63,534|
28,892| ||||||=======|=======| |**11**|**Unrestricted Funds**|||||| |||||**At 1**|**Net**|**At 31**| |||||**April**|**Movement**|**March**| |||||**2021**|**in Funds**|**2022**| |||||**£**|**£**|**£**| ||Unrestricted Funds – General Fund|||537,664
|13,221|550,885| |||||=======|=======|=======| Page: 12 **14 Called up share capital** **15 Control** **16 Transactions with Trustees and Related Parties** ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## **12 Restricted Funds** |**stricted Funds**|||||| |---|---|---|---|---|---| ||**At 1**|||**Expenditure**|**At 31**| ||**April**|||**on fixed**|**March**| |**Restricted Use**|**2021**|**Income**|**Expenditure**|**assets**|**2022**| ||**£**|**£**|**£**|**£**|**£**| |Training and work skills|39,667|35,500|(36,917)|-|38,250| |Wages|25,001|60,000|(57,500)|-|27,501| |Premises maintenance and repairs|5,849|18,066|(17,415)|-|6,500| |New van|27,500|4,240|-|(31,740)|-| ||_____|______|______|______|_____| ||98,017|117,806|(111,832)|(31,740)|72,251| ||=====|======|======|======|=====| ## **13 Funds received as agent** During the year the charity received funds amounting to £6,153 (2021: £4,330) from Access to Work on behalf of individual staff to purchase specialised equipment and training. Resources expended in the year amounted to £6,153 (2021: £4,330) and there were no balances held as agent at the year end. All equipment purchased remains the property of the individuals concerned. 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. The charity has been controlled throughout the year by the trustees, who are identified in the company information. 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. ## **17 Cash Generated from Operations** |**Cash Generated from Operations**||| |---|---|---| ||**2022**|2021| ||**£**|£| |(Deficit)/surplus for the year|(12,545)|272,334| |**Adjustments for:**||| |Depreciation charges|3,174|-| |Interest from investments|(1,438)|(1,689)| |Profit on disposal of tangible fixed assets|(1,667)|-| |**Movements in working capital:**||| |Decrease in debtors|114|920| |Increase in creditors|34,642|10,775| ||_______|_______| |**Cash generated by operations**
|22,280|
282,340| ||======|======| Page: 13 ## **WATFORD SHELTERED WORKSHOP LIMITED** ## **Notes forming part of the Accounts** ## **for the year ended 31 March 2021** ## **18 Deferred Income** Grant income has been received which is subject to performance related conditions falling within the following year. ||**Balance at**|**Movement in**|**Balance at**| |---|---|---|---| ||**1 April**|**the year**|**31 March**| ||**2021**||**2022**| ||**£**|**£**|**£**| |Hertfordshire County Council|-|34,332|34,332| ||======|======|======| Page: 14