REGISTERED COMPANY NUMBER: 01158197 (England and Wales) REGISTERED CHARITY NUMBER: 267117
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
FERRIERS BARN LIMITED (A COMPANY LIMITED BY GUARANTEE)
LB Group The Octagon Suite E2 Middleborough Colchester Essex CO1 1TG
FERRIERS BARN LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
FERRIERS BARN LIMITED (REGISTERED NUMBER: 01158197)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
A Summary of the Memorandum's Objectives for the Barn are:
'To provide relief of 'adults with disabilities', known as the Members, by providing a building for use as a day centre with facilities for recreation and other activities.'
And 'To provide endow, furnish and fit out with all necessary furniture and other equipment, and maintain and manage such buildings and other premises as may from time to time be required for the purposes of the association.'
Public benefit
The 2023 activities undertaken with public benefit were:
-Looking after adults with disabilities (Members) from North Essex and South Suffolk by the provision of a day centre. Open for 42 weeks a year where they may carry out Arts, Crafts and a range of other activities. They are offered a two-course lunch each day. This also has included the provision of bus transport to collect Members on request. - Provision of events where the local public may join in.
Additionally, the facilities are made available for musicians to rehearse, for families to hold gatherings and local people to make full use of our beautiful buildings and gardens.
-The Trustees always have had regard to the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE Summary of the Main Achievements. Additional Activities at Ferriers Barn Ltd in 2023
The year 2023 was a great one for Ferriers Barn. We were in full swing after Covid, had new members and volunteers joining us, we were given some fantastic grants and we got plenty of exposure on our social media accounts.
During the year we received grants from The Essex Community Foundation to run the bus, Active Essex and ECF to have regular exercise classes and sound bowl therapy. We also received a grant from the Ardonough Trust which paid for our old garage door to be replaced, and The Essex Community Foundation gave us a grant towards our salary expense.
We had 2 new members join us in 2023, bringing our current number to 26. Sadly, two of our members passed away in 2023.
We currently have 14 members of staff, including two cooks and two drivers, both of which are shared positions. Our carers and tutors all work on a part-time basis. We have 9 volunteers who generally come in on a set day each week.
Ferriers Barn is very fortunate to have support from the local community and is in receipt of regular monthly and annual donations.
We hosted a Christmas Bazaar in 2023 and we also took the members for their yearly visit to the Panto at The Mercury Theatre in Colchester, we visited the cinema, went bowling and also to the cinema.
Page 1
FERRIERS BARN LIMITED (REGISTERED NUMBER: 01158197)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
Council of Management (CoM) and Executive Committee Activities in 2023
There were four full CoM meetings. At all CoM meetings Conflict of Interests, Safeguarding and Financial Risks were considered. In addition, the monthly Management accounts were prepared, together with updates regarding Bank and Reserve Holdings.
FINANCIAL REVIEW
At the 2023 Year End, the operational loss was £32,178, with an overall Net Loss of £6,690 after the net gains on investments were applied. The Net Loss reduced the Balance Sheet Total Funds to £356,227.
Incoming Resources
- In 2023 Total Income increased to £168,234 (2022: £170,222). Donations at £24,101 (2022: £44,591) were lower than last year. Day Centre Fees at £84,892 (2022: £67,018) showed good Member numbers and attendances. Income from Fundraising events raised £7,066 (2022: £1,773). Investment Income was up at £8,874 (2022: £8,370).
Resources Expended
- The Total Resources Expended were £200,412 (2022: £192,151). Staff costs increased by 17%. Staff pay levels which are kept in line with, but slightly above, those of the National Living Wage levels, are set by the Executive Committee before being agreed at Council of Management meetings. The cost of Catering and Household increased to £10,169 (2022: £7,349), and Transport reduced slightly to £5,662 (2022: £5,767). £12,022 (2022: £29,877) was spent on repairs.
Net Resources Incoming/Expended
- This resulted in £6,690 net expenditure as against £58,425 net expenditure in 2022.
Reserves
-
The Year End value of the Reserves held in the CCLA portfolio was £302,849 (2022: £277,362), and the number of Investment Units held was 15,261 (2022: £15,261). The policy continues to be to retain this Reserve as CCLA Investment Units at a level which enables the Council of Management to make changes to the day to day operations at the Barn as considered necessary.
-
The Reserves have been funded by donations or bequests over the years and continue to be used to keep the Barn's bank balances positive and to support capital projects if necessary. The Barn continues to have no loan liabilities. - The Administrator continues to manage staff recruitment and hours and is the staff member responsible for all Petty Cash transactions.
PLANS FOR THE FUTURE
We are always open and actively looking for new members.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Ferriers Barn Ltd (referred to in this report as the Barn), is a charity controlled by its governing document, a Deed of Trust, and constitutes a limited company limited by guarantee as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The Council of Management (CoM), comprising the Trustees, appoints new Trustees as necessary and is responsible for their training.
All Trustees of the Barn are also its Directors. There are no other trustees, but Council meetings may be attended by the Administrator, any newly appointed Trustee not yet declared to Companies House or any adviser.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01158197 (England and Wales)
Registered Charity number
267117
Page 2
FERRIERS BARN LIMITED (REGISTERED NUMBER: 01158197)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Registered office
Ferriers Barn Bures Suffolk CO8 5DL
Trustees
D R Bridge Chairman Mrs C A Cowlin Company Secretary S J L Foster Treasurer A Wills (resigned 11/11/2023) Mrs E H B Flower P McKenna Mrs N J Moore Mrs C Post Mrs F C Crace Trustee (appointed 6/3/2023)
Company Secretary Mrs C A Cowlin
Independent Examiner
LB Group The Octagon Suite E2 Middleborough Colchester Essex CO1 1TG
Bankers
Barclays Bank Plc 9 High Street Colchester Essex CO1 1DA
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 27 September 2024 and signed on its behalf by:
S J L Foster - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FERRIERS BARN LIMITED (REGISTERED NUMBER: 01158197)
Independent examiner's report to the trustees of Ferriers Barn Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Andrew Robert Green
LB Group The Octagon Suite E2 Middleborough Colchester Essex CO1 1TG
Date: .............................................
Page 4
FERRIERS BARN LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 31,601 Charitable activities Day centre 95,673 Other trading activities 3 7,066 Investment income 4 8,874 Total 143,214 EXPENDITURE ON Raising funds 89 Charitable activities Day centre 178,875 Management and admin - Other 3,614 Total 182,578 Net gains/(losses) on investments 25,488 NET INCOME/(EXPENDITURE) (13,876) RECONCILIATION OF FUNDS Total funds brought forward 343,052 TOTAL FUNDS CARRIED FORWARD 329,176 |
Restricted funds £ 25,020 - - - 25,020 - 17,834 - - 17,834 - 7,186 19,865 27,051 |
2023 Total funds £ 56,621 95,673 7,066 8,874 168,234 89 196,709 - 3,614 200,412 25,488 (6,690) 362,917 356,227 |
2022 Total funds £ 81,824 78,255 1,773 8,370 170,222 18 189,208 405 2,520 192,151 (36,496) (58,425) 421,342 362,917 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
FERRIERS BARN LIMITED (REGISTERED NUMBER: 01158197)
BALANCE SHEET 31 DECEMBER 2023
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 8,895 Investments 10 302,849 311,744 CURRENT ASSETS Debtors 11 5,511 Cash at bank and in hand 15,712 21,223 CREDITORS Amounts falling due within one year 12 (3,790) NET CURRENT ASSETS 17,433 TOTAL ASSETS LESS CURRENT LIABILITIES 329,177 NET ASSETS 329,177 FUNDS 13 Unrestricted funds: General fund Legacies received Designated Fund Restricted funds TOTAL FUNDS |
Restricted funds £ 13,539 - 13,539 - 13,511 13,511 - 13,511 27,050 27,050 |
2023 Total funds £ 22,434 302,849 325,283 5,511 29,223 34,734 (3,790) 30,944 356,227 356,227 22,049 172,128 135,000 329,177 27,050 356,227 |
2022 Total funds £ 26,046 277,362 303,408 6,388 56,811 63,199 (3,690) 59,509 362,917 362,917 100,392 137,660 105,000 343,052 19,865 362,917 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
FERRIERS BARN LIMITED (REGISTERED NUMBER: 01158197)
BALANCE SHEET - continued 31 DECEMBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2024 and were signed on its behalf by:
S J L Foster - Trustee
C A Cowlin - Trustee
The notes form part of these financial statements
Page 7
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements of the individual private charitable company, which is a public benefit entity under FRS 102 incorporated in England, 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 2015)', Financial Reporting 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The financial statements have complied with FRS 102 1A due to applying update bulletin 1 and have therefore not prepared a cashflow statement.
The financial statements have been prepared under the historical cost convention and have been prepared in accordance with applicable charity and company law.
The accounts have been prepared in Sterling which is the functional currency of the charity and are rounded to the nearest pound (£).
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 15% on reducing balance
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Taxation
The charity is exempt from corporation tax on its charitable activities.
continued...
Page 8
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are funds set aside to meet future commitments and plans.
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 financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors and creditors within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: Essex Community Foundation Tesco - Ground work UK TE National Lottery Awards -Community Fund Bures Music Festival Charitable Trust Esses County Council ICF West Essex MIND Perry Watlington Girdlers Trust Other small Grants Ardongh Group CH Foundation Essex Fund John Laing Charitable Fund The Squirrel Fund The Community Resilience Fund |
2023 £ 24,101 32,520 56,621 2023 £ 4,890 - - 1,500 6,930 - - 5,000 1,200 - 5,000 1,000 2,500 556 1,444 2,500 32,520 |
2022 £ 44,591 37,233 |
|---|---|---|
| 81,824 | ||
| 2022 £ 11,077 500 9,520 1,500 - 2,155 5,000 5,000 1,350 1,131 - - - - - - |
||
| 37,233 |
continued...
Page 9
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
3. OTHER TRADING ACTIVITIES
| 3. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Fundraising events | 7,066 | 1,773 | |
| 4. | INVESTMENT INCOME | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Dividends receivable | 8,314 | 8,282 | |
| Deposit account interest | 285 | 88 | |
| Interest receivable - trading | 275 | - | |
| 8,874 | 8,370 |
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 4,485 | 4,877 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Carers No employees received emoluments in excess of £60,000. |
2023 14 |
2022 12 |
|---|---|---|
There are no key management personnel remuneration or benefits to report.
continued...
Page 10
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 53,570 Charitable activities Day centre 78,255 Other trading activities 1,773 Investment income 8,370 Total 141,968 EXPENDITURE ON Raising funds 18 Charitable activities Day centre 159,027 Management and admin 405 Other 2,520 Total 161,970 Net gains/(losses) on investments (36,496) NET INCOME/(EXPENDITURE) (56,498) RECONCILIATION OF FUNDS Total funds brought forward 399,550 TOTAL FUNDS CARRIED FORWARD 343,052 |
Restricted funds £ 28,254 - - - 28,254 - 30,181 - - 30,181 - (1,927) 21,792 19,865 |
Total funds £ 81,824 78,255 1,773 8,370 170,222 18 189,208 405 2,520 192,151 (36,496) (58,425) 421,342 362,917 |
|---|---|---|
continued...
Page 11
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
9. TANGIBLE FIXED ASSETS
| COST At 1 January 2023 Additions At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 COST At 1 January 2023 Additions At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Improvements Long to Plant and leasehold property machinery £ £ £ 45,378 15,187 2,770 - - 449 45,378 15,187 3,219 45,378 5,860 1,069 - 1,399 312 45,378 7,259 1,381 - 7,928 1,838 - 9,327 1,701 Fixtures and Motor Computer fittings vehicles equipment Totals £ £ £ £ 54,137 34,275 4,123 155,870 265 - 159 873 54,402 34,275 4,282 156,743 44,170 29,700 3,647 129,824 1,535 1,144 95 4,485 45,705 30,844 3,742 134,309 8,697 3,431 540 22,434 9,967 4,575 476 26,046 |
|---|---|
continued...
Page 12
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
10. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2023 | 277,362 |
| Additions | (1) |
| Revaluations | 25,488 |
| At 31 December 2023 | 302,849 |
| NET BOOK VALUE | |
| At 31 December 2023 | 302,849 |
| At 31 December 2022 | 277,362 |
| There were no investment assets outside the UK. | |
| Cost or valuation at 31 December 2023 is represented by: |
| Valuation in 2018 Valuation in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Cost 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors |
Listed investments £ 69,393 38,479 16,521 38,992 (36,496) 25,487 150,473 302,849 2023 2022 £ £ 5,270 6,388 241 - 5,511 6,388 |
|---|---|
continued...
Page 13
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Social security and other taxes Other creditors Accrued expenses |
2023 £ 840 9 2,941 3,790 |
2022 £ 699 111 2,880 |
|---|---|---|
| 3,690 |
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund Legacies received Designated Fund Restricted funds Minibus fund Other Restricted Fund Wages fund TOTAL FUNDS |
At 1/1/23 £ 79,549 158,503 105,000 343,052 4,575 12,894 2,396 19,865 362,917 |
Net movement in funds £ (37,149) 13,625 9,649 (13,875) 56 6,413 716 7,185 (6,690) |
Transfers between funds £ (20,351) - 20,351 - - - - - - |
At 31/12/23 £ 22,049 172,128 135,000 |
|---|---|---|---|---|
| 329,177 4,631 19,307 3,112 |
||||
| 27,050 | ||||
| 356,227 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Legacies received Designated Fund Restricted funds Minibus fund Other Restricted Fund Wages fund TOTAL FUNDS |
Incoming resources £ 143,214 - - 143,214 1,200 16,821 6,999 25,020 168,234 |
Resources expended £ (182,577) - - (182,577) (1,144) (10,408) (6,283) (17,835) (200,412) |
Gains and Movement losses in funds £ £ 2,214 (37,149) 13,625 13,625 9,649 9,649 25,488 (13,875) - 56 - 6,413 - 716 - 7,185 25,488 (6,690) |
|---|---|---|---|
continued...
Page 14
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/1/22 £ Unrestricted funds General fund 242,380 Legacies received 157,170 Designated Fund - 399,550 Restricted funds Minibus fund 6,099 Other Restricted Fund 15,693 Wages fund - 21,792 TOTAL FUNDS 421,342 Comparative net movement in funds, included in the above are as Incoming resources £ Unrestricted funds General fund 141,968 Legacies received - 141,968 Restricted funds Minibus fund 1 Other Restricted Fund 3,733 Wages fund 24,520 28,254 TOTAL FUNDS 170,222 |
Net movement in funds £ (36,988) (19,510) - (56,498) (1,524) (2,799) 2,396 (1,927) (58,425) follows: Resources expended £ (161,970) - (161,970) (1,525) (6,532) (22,124) (30,181) (192,151) |
Transfers between At funds 31/12/22 £ £ (105,000) 100,392 - 137,660 105,000 105,000 - 343,052 - 4,575 - 12,894 - 2,396 - 19,865 - 362,917 Gains and Movement losses in funds £ £ (16,986) (36,988) (19,510) (19,510) (36,496) (56,498) - (1,524) - (2,799) - 2,396 - (1,927) (36,496) (58,425) |
|---|---|---|
continued...
Page 15
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Legacies received Designated Fund Restricted funds Minibus fund Other Restricted Fund Wages fund TOTAL FUNDS |
At 1/1/22 £ 242,380 157,170 - 399,550 6,099 15,693 - 21,792 421,342 |
Net movement in funds £ (74,137) (5,885) 9,649 (70,373) (1,468) 3,614 3,112 5,258 (65,115) |
Transfers between funds £ (125,351) - 125,351 - - - - - - |
At 31/12/23 £ 42,892 151,285 135,000 329,177 4,631 19,307 3,112 27,050 356,227 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Legacies received Designated Fund Restricted funds Minibus fund Other Restricted Fund Wages fund TOTAL FUNDS |
Incoming resources £ 285,182 - - 285,182 1,201 20,554 31,519 53,274 338,456 |
Resources expended £ (344,547) - - (344,547) (2,669) (16,940) (28,407) (48,016) (392,563) |
Gains and Movement losses in funds £ £ (14,772) (74,137) (5,885) (5,885) 9,649 9,649 (11,008) (70,373) - (1,468) - 3,614 - 3,112 - 5,258 (11,008) (65,115) |
|---|---|---|---|
Unrestricted fund
Ferriers Barn aims to maintain sufficient reserves to cover both operating costs and any large capital expenditure.
We aim to maintain 12 months' worth of operating costs in the event of a substantial drop in income from members' fees.
Designated fund
continued...
Page 16
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS - continued
Designated funds include £65,000 for replacement of the minibus,£10,000 for building works, £20,000 for a septic tank and £40,000 for Phase 2 of the roof replacement and associated costs. Phase 1 of the work on the roof has been completed and Phase 2 is expected to be completed before the end of 2025.
Restricted fund
Minibus fund
The Minibus fund is restricted for the purchase of a new minibus. The Net book value of the restricted minibus is £3,431 which is depreciated each year. If the minibus were to be sold then any proceeds received from such sale will also form part of the restricted fund. There is also £1,200 restricted for the aircon for the minibus.
Wages fund
The Wages fund is restricted for staff wages for specific charitable activities.
Other restricted fund
The Other restricted fund is restricted for the purchase of a various items such as toilets, covid, heating, pottery and tutor costs, garage doors, PHAB and running the bus. Many of these items have been spent within the year, however the following remain within the restricted fund;
£1,143 remains to be spent on Exercise and sound bowls expenses
£6,930 remains to be spent on PHAB
£ 963 remains to be spent on running the bus £ 162 remains to be spent on Pottery. £9,198
There are a number of other restricted fund fixed assets which are being depreciated each year as follows;
-
£ 7,928 remains the net book value of the toilets which is not yet fully depreciated.
-
£ 650 remains the net book value of the Benches which is not yet fully depreciated
-
£ 827 remains the net book value of the blinds which is not yet fully depreciated.
-
£ 442 remains the net book value of the Tables which is not yet fully depreciated.
-
£ 261 remains the net book value of the garden equipment which is not yet fully depreciated.
-
£10,108
14. OTHER FINANCIAL COMMITMENTS
There were no financial commitments that require disclosure.
continued...
Page 17
FERRIERS BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
15. RELATED PARTY DISCLOSURES
Trustees donated £1,000 during the year (2022: £1,270). Other than this there are no further related party transactions for the year ended 31 December 2023.
16. FRC ETHICAL STANDARD-PROVISION AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our Independent examiners to assist with the preparation of the financial statements and if necessary prepare and submit returns to the tax authorities.
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FERRIERS BARN LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Fundraising events Investment income Dividends receivable Deposit account interest Interest receivable - trading Charitable activities Day care centre fees Catering fees Transport fees Hire fees Total incoming resources EXPENDITURE Raising donations and legacies Fundraising costs Charitable activities Wages Social security Pensions Advertising Sundries Catering and household Transport costs Tutor costs Craft Materials Staff entertainment costs Health and safety Member events |
2023 £ 24,101 32,520 56,621 7,066 8,314 285 275 8,874 84,892 6,856 3,605 320 95,673 168,234 89 146,215 275 669 216 554 10,169 5,662 747 267 120 127 208 165,229 |
2022 £ 44,591 37,233 |
|---|---|---|
| 81,824 1,773 8,282 88 - |
||
| 8,370 67,018 7,732 3,265 240 |
||
| 78,255 | ||
| 170,222 18 125,358 - 322 62 498 7,349 5,767 660 276 - - - |
||
| 140,292 |
This page does not form part of the statutory financial statements
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FERRIERS BARN LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Support costs Management Insurance Light and heat Telephone, postage stationery Repairs and renewals Computer costs Office/General administrative expenses Depreciation of tangible and heritage assets Finance Bank charges Fines and penalties Governance costs Independent examiners fee Bookkeeping Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net expenditure |
2023 £ 1,780 3,894 647 12,022 288 4,206 4,485 27,322 438 - 438 3,720 3,614 7,334 200,412 (32,178) 25,488 (6,690) |
2022 £ 1,778 3,730 501 29,877 505 7,207 4,878 48,476 340 100 440 405 2,520 2,925 192,151 (21,929) (36,496) (58,425) |
|---|---|---|
This page does not form part of the statutory financial statements
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