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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 01266607 (England and Wales) REGISTERED CHARITY NUMBER: 273334

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

WEST WIGHT SPORTS AND COMMUNITY CENTRE TRUST LIMITED

Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 21
Detailed Statement of Financial Activities 22 to 23

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

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 March 2021. 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

The objects of the charity are to provide facilities for recreation, or other leisure time occupation, by the public. The principal activities are the management and running of West Wight Sports and Community Centre, Freshwater, Isle of Wight for the benefit of clubs and the public.

To this end the aims and objectives of the charity for the year were to:

Public benefit

The company's charitable status embodies the provision of social welfare and facilities for recreation for the public benefit. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity’.

ACHIEVEMENT AND PERFORMANCE

Review of activities

At the beginning of this financial year West Wight Sports and Community Centre (WWS&CC) remained closed due to the Covid-19 lock-down implemented by the government. As stated in our previous year's report WWS&CC established, in a very short time, a Help Hub for the community based within the centre and led by the Centre Manager and a small group of our staff.

The West Wight is a more isolated part of the Island and has a higher- than -average percentage of residents over 65 years of age. The Help Hub and the volunteers provided a lifeline to the local community.

The Help Hub continued to support the community throughout the first lockdown. 53 of our 57 staff were furloughed. The Trustee's concern at the beginning of lockdown was the financial impact that this would have on our business. Towards the end of our previous financial year the income to the centre from memberships had been the highest recorded.

Like many other organisations, we were helped financially by government and local grants that became available. Many of our members continued to pay their membership even though the Centre was closed. We also received several anonymous donations to the centre and the Government's furlough programme enabled us to retain our staff.

At the end of July 2020 we cautiously reopened the centre adhering to government guidelines on keeping our Centre Users and staff safe. However, in November 2020 a further lockdown into early 2021 was instigated due to the rising numbers of people with a positive Covid-19 test. Throughout this time the volunteers again continued to support the community led by the team from the Centre.

Throughout this last difficult trading year the Centre has been hugely supported by our community, our staff and our members. To see people back in the Centre enjoying the facilities we can offer has been the best thing we could have hoped for.

In our previous year we reported that "with continued careful conscientious management" we would survive the crisis. This does seem to be the case.

In recognition of the role carried out by the Help Hub throughout 2020/21 Clare Griffin the Centre Manager was awarded the MBE for her leadership in providing much needed support to the local area.

Page 1

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

ACHIEVEMENT AND PERFORMANCE

Fundraising

The charity co-ordinates fundraising internally and does not employ any external fundraising agencies. The fundraising does not involve contacting or pursuing specific individuals for donations. The charity worked to ensure that fundraising was appropriate and was carried out in compliance with GDPR. No complaints have been received in respect of fundraising.

FINANCIAL REVIEW

Financial review

Total income for the year amounted to £792,894 (2020: £895,931). Costs of generating funds amounted to £18,465 (2020: £76,300) and costs of charitable activities amounted to £721,593 (2020: £862,448). Unrestricted and restricted funds carried forward at the end of the year amounted to £2,142,098 (2020: £2,088,288) and £24,706 (2020: £25,680) respectively.

Reserves policy

In line with the Charity Commissions' recommendations' we are setting out our policy on reserves in more detail as set out below.

In terms of cash reserves we have and continue to look to cover six months operating costs, bearing in mind that, in our case, these are income generating costs, this may be considered excessive. Based on budgeted operational results we have two to three years cash reserves.

In terms of our reserves policy as applied to our funds our policies are set out as follows:

The charities reserves, being defined as the unrestricted funds of the charity which are freely available to spend on any of the charity's purposes, are made up as follows:

Net assets
Less:
Fixed assets
Restricted funds
Reserves available		 2021
£
2,166,804
1,909,565
24,706
232,533		 2020
£
2,113,968
1,947,719
25,680
140,569

Reserves are essential to the running of the centre, and in ensuring it continues to meet the needs of its users and the community. The reserves are used to provide working capital for the day to day running of the centre, ensure there is a financial safety net for any unexpected requirements and to provide for the potential and occasionally substantial costs required in maintaining the centre. The trustees consider the reserves held to be reasonable for these purposes and not excessive.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

West Wight Sports and Community Centre Trust Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 March 1976 as amended 17 March 1977. It has been registered as a charity with the Charity Commission since 29 April 1977.

Page 2

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitution

The charity is governed by the Council of management made up of the trustees of the charity. All members of the council are directors and members of the company and are referred to as trustees throughout the accounts in accordance with applicable law. Their liability in the event of winding up the company would amount to £10, being the amount of the guarantee. No member held any interest in the company during the two years prior to 31 March 2020.

Recruitment and appointment of new trustees

Members of the council of management are elected at the annual general meeting to serve for an unlimited period of time subject to ratification at each annual general meeting. Prospective members of the council are initially approached by a member of the board prior to nomination being proposed at the annual general meeting. Subject to such proposal receiving the full support of the board, the proposed new trustee is invited to join the board and following their acceptance is fully briefed as to charity matters and the aims and objectives of the charity at the first board meeting at which they attend. There are no formal policies for induction and training of council members.

Organisational structure

The council of management meet on a bi-monthly basis to consider relevant issues relating to the charity. A centre manager is appointed by the council of management to manage the strategic and day to day operations of the charity.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01266607 (England and Wales)

Registered Charity number 273334

Registered office Moa Place Freshwater Isle of Wight PO40 9XH

Trustees
Dr G Thomson - President
Mrs G Kennett MBE - Chairman
Mr D Hancock
Mr J B Awty
Mr J Howe
Mr C E Fleury
Mr M J Webber
Mr M Coyle
Mr P Noctor
Mr A J Cook
Mr G Cameron (appointed 23/09/2021)
Independent Examiner
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

Page 3

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

Lloyds TSB Plc 22 St. Thomas' Square Newport Isle of Wight PO30 1SQ

Centre manager Clare Griffin

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

..................................................................................... Mrs G Kennett MBE - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WEST WIGHT SPORTS AND COMMUNITY CENTRE TRUST LIMITED

Independent examiner's report to the trustees of West Wight Sports and Community Centre Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

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

  3. 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

  4. 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.

Gavin Kelly ACA, FCCA ICAEW Bright Brown Limited Chartered Accountants Newport Isle of Wight

Date: .............................................

Page 5

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Centre Operations
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Centre Operations
Total
NET INCOME
Transfers between funds
21
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
394,208
239,840
56,935
173
691,156
18,465
623,345
641,810
49,346
4,464
53,810
2,088,288
2,142,098		 Restricted
funds
£
101,738
-
-
-
101,738
-
98,248
98,248
3,490
(4,464)
(974)
25,680
24,706		 2021
Total
funds
£
495,946
239,840
56,935
173
792,894
18,465
721,593
740,058
52,836
-
52,836
2,113,968
2,166,804		 2020
Total
funds
£
231,722
531,359
131,718
1,132
895,931
76,300
786,148
862,448
33,483
-
33,483
2,080,485
2,113,968

The notes form part of these financial statements

Page 6

(REGISTERED NUMBER: 01266607)

BALANCE SHEET 31 MARCH 2021

Notes
FIXED ASSETS
Tangible assets
15
CURRENT ASSETS
Stocks
16
Debtors
17
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
21
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2021
£
1,909,565
7,293
26,510
256,997
290,800
(33,561)
257,239
2,166,804
2,166,804
2,142,098
24,706
2,166,804		 2020
£
1,947,719
8,247
32,664
185,221
226,132
(59,883)
166,249
2,113,968
2,113,968
2,088,288
25,680
2,113,968

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.

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 ............................................. and were signed on its behalf by:

.............................................

G Kennett MBE - Trustee

The notes form part of these financial statements

Page 7

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period		 2021
£
76,443
76,443
(4,667)
(4,667)
71,776
185,221
256,997		 2020
£
68,682
68,682
(164,251)
(164,251)
(95,569)
280,790
185,221

The notes form part of these financial statements

Page 8

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2021 2020
£ £
Net income for the reporting period (as per the Statement of Financial Activities) 52,836 33,483
Adjustments for:
Depreciation charges 42,821 42,894
Decrease in stocks 954 1,031
Decrease in debtors 6,154 1,344
Decrease in creditors (26,322) (10,070)
Net cash provided by operations 76,443 68,682
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand 185,221 71,776 256,997
185,221 71,776 256,997
Total 185,221 71,776 256,997

The notes form part of these financial statements

Page 9

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

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.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - Over the period of the lease
Improvements to property - Over the period of the lease
Plant and machinery - Straight line over 3 to 20 years

The useful economic life of the long leasehold property has been revised this year to over the life of the lease, to be more reflective of the expected life of the building and the lease term.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Income arising from centre operations is considered to be generated in furtherance of the primary purposes of the centre, and is therefore, exempt from corporation tax.

Income arising from activities to generate funds is considered to arise from activities ancillary to the charitable purpose of the centre, or fall within the bounds of the HM Revenue and Customs "small trading exemption" for charities, and are therefore, exempt from corporation tax.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds represent funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.

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.

Leasing commitments

Rentals paid under operating leases are charged to resources expended evenly over the term of the lease.

continued...

Page 10

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES - continued

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.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Unrestricted
Restricted
funds
funds
£
£
Donations
77,472
-
Grants
236,056
101,738
Sponsored events
20,254
-
Freshwater Parish Council donation
40,000
-
Totland Parish Council donation
10,000
-
Yarmouth Parish Council donation
7,426
-
Shalfleet Parish Council donation
3,000
-
394,208
101,738		 2021
Total
funds
£
77,472
337,794
20,254
40,000
10,000
7,426
3,000
495,946		 2020
Total
funds
£
34,858
111,250
26,974
40,000
10,000
7,140
1,500
231,722

Grants received, included in the above, are as follows:

Wight Aid
Southern Housing Group Grant
Rural Fund - Gym Refurbishment
Community Connector
IOW Council - Kick Out The Calories
State Aid Grant
Corona Hub
CAIW Community Resilience
National Emergencies Trust
Connect 4 Communities
Third Sector Lifeline (IWC 5000)
Clinically Extremely Vulnerable
National Lottery Covid Response Grant
Isle of Wight Council DEFRA
Coronavirus Job Retention Support		 2021
£
7,315
-
-
28,000
-
26,089
2,000
9,475
13,200
10,000
38,467
5,256
9,700
3,000
185,292
337,794		 2020
£
-
17,250
50,000
40,000
4,000
-
-
-
-
-
-
-
-
-
-
111,250

Included in the above are government grants received from National level down to both the County and Parish Council levels. Government grants were Community Connector (Freshwater and Totland Parish Councils this year), Kick Out the Calories, State Aid Grant, Connect 4 Communities, Third Sector Lifeline, Isle of Wight Council DEFRA, and the Coronavirus Job Retention Support (CJRS) Scheme. Included in Corona Hub was £1,000 from Totland Parish Council, and included within Clinically Extremely Vulnerable was £2,500 from the Isle of Wight County Council.

The total government grants recieved in the year included in the above was £296,348 (2020: £44,000).

continued...

Page 11

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

3. OTHER TRADING ACTIVITIES

Unrestricted
Restricted
funds
funds
£
£
Cafe sales
13,848
-
Retail sales
4,251
-
Leased rentals
17,479
-
Car parking income
13,984
-
Other activities
7,373
-
56,935
-
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Investment interest
173
-
INCOME FROM CHARITABLE ACTIVITIES
Activity
Memberships and centre fees
Centre Operations
Room hire
Centre Operations		 2021
Total
funds
£
13,848
4,251
17,479
13,984
7,373
56,935
2021
Total
funds
£
173
2021
£
216,586
23,254
239,840		 2020
Total
funds
£
60,302
12,971
17,268
26,478
14,699
131,718
2020
Total
funds
£
1,132
2020
£
498,104
33,255
531,359

4. INVESTMENT INCOME

5. INCOME FROM CHARITABLE ACTIVITIES

6. RAISING FUNDS

Raising donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Fund raising expenses
3,117
-
Other trading activities
Unrestricted
Restricted
funds
funds
£
£
Purchases
12,718
-
Staff costs
2,617
-
Cafe expenses and equipment
13
-
15,348
-
Aggregate amounts
18,465
-		 2021
Total
funds
£
3,117
2021
Total
funds
£
12,718
2,617
13
15,348
18,465		 2020
Total
funds
£
15,025
2020
Total
funds
£
41,998
18,494
783
61,275
76,300

continued...

Page 12

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

7. CHARITABLE ACTIVITIES COSTS

Grant
funding of
Direct
activities
Costs (see
(see note
note 8)
9)
£
£
Centre Operations
720,193
1,400
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2021
£
Staff costs
457,394
Other operating leases
1
Rates and water
9,767
Insurance
15,620
Light and heat
50,390
Telephone
2,988
Postage and stationery
2,163
Advertising
991
Sundries
6,769
Chlorine and acid
3,497
Covid Support Costs
12,167
Centre activities
44,183
Training
600
Cleaning and waste disposal
4,311
Repairs and renewals
28,035
Irrecoverable VAT
18,415
Subscriptions
7,418
Bank charges and interest
2,015
Accountancy
6,378
Legal and professional fees
4,270
Bad debts
-
Depreciation
42,821
720,193
9.
GRANTS PAYABLE
2021
£
Centre Operations
1,400		 Totals
£
721,593
2020
£
456,114
445
12,487
12,392
55,061
2,190
4,287
3,535
5,446
8,486
-
83,775
3,936
6,790
43,507
25,028
9,578
1,936
5,975
1,884
402
42,894
786,148
2020
£
-

continued...

Page 13

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2021 2020
£ £
Depreciation - owned assets 42,821 42,894
Other operating leases 1 445

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

12. STAFF COSTS

Wages and salaries
Social security costs
The average monthly number of employees during the year was as follows:
Charitable activities
Remuneration to key management personnel was £35,229.		 2021
£
440,119
19,892
460,011
2021
57		 2020
£
453,978
20,630
474,608
2020
57

No employees received emoluments in excess of £60,000.

13. MATERIAL TRANSFERS

Restricted fund expenditure of a capital nature, mainly the purchase of equipment, is included in fixed asset additions at the time of the purchase.

An amount equal to the lower of the income received in respect of the equipment or the cost of this equipment is transferred from the restricted fund to the fixed asset fund, provided that this equipment may be used by the charity for its general application.

Depreciation on this equipment will be charged against the fixed asset fund. A transfer from the restricted fund to the fixed asset fund will not be made for fixed asset additions that are not capable of being used by the charity for general purposes. Depreciation in respect of this type of asset will be charged against restricted funds.

continued...

Page 14

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Centre Operations
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Centre Operations
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
113,158
531,359
131,718
1,132
777,367
62,254
746,963
809,217
(31,850)
80,554
48,704
2,039,584
2,088,288		 Restricted
funds
£
118,564
-
-
-
118,564
14,046
39,185
53,231
65,333
(80,554)
(15,221)
40,901
25,680		 Total
funds
£
231,722
531,359
131,718
1,132
895,931
76,300
786,148
862,448
33,483
-
33,483
2,080,485
2,113,968

continued...

Page 15

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

15. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
16.
STOCKS
Stocks
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
Prepayments		 Long
leasehold
£
2,481,435
-
2,481,435
792,274
16,399
808,673
1,672,762
1,689,161		 Improvements
to
property
£
116,950
-
116,950
1,124
1,124
2,248
114,702
115,826		 Plant and
machinery
£
574,567
4,667
579,234
431,835
25,298
457,133
122,101
142,732
2021
£
7,293
2021
£
5,740
8,722
699
11,349
26,510		 Totals
£
3,172,952
4,667
3,177,619
1,225,233
42,821
1,268,054
1,909,565
1,947,719
2020
£
8,247
2020
£
10,669
9,542
-
12,453
32,664		 Totals
£
3,172,952
4,667
3,177,619
1,225,233
42,821
1,268,054
1,909,565
1,947,719
2020
£
8,247
2020
£
10,669
9,542
-
12,453
32,664
32,664

continued...

Page 16

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Deferred income
Accrued expenses		 2021
£
6,045
5,912
-
-
12,941
8,663
33,561		 2020
£
3,247
12,817
3,328
1,183
34,215
5,093
59,883

19. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2021
£
1
4
97
102		 2020
£
1
4
98
103

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Current liabilities		 Unrestricted
funds
£
1,909,565
266,094
(33,561)
2,142,098		 Restricted
funds
£
-
24,706
-
24,706		 2021
Total
funds
£
1,909,565
290,800
(33,561)
2,166,804		 2020
Total
funds
£
1,947,719
226,132
(59,883)
2,113,968

continued...

Page 17

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

21. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Fixed asset fund
Contingency fund
Restricted funds
Wight Aid
Defibrillator
Southern Housing Group
Community Connector
Kick Out The Calories
Connect4 Communities
Third Sector Lifeline (IWC 5000)
Isle of Wight Council DEFRA
TOTAL FUNDS		 At 1.4.20
£
1,569
1,947,719
139,000
2,088,288
-
234
10,574
12,111
2,761
-
-
-
25,680
2,113,968		 Net
movement
in funds
£
92,166
(42,820)
-
49,346
2,190
-
(1,170)
(7,401)
-
7,984
287
1,600
3,490
52,836		 Transfers
between
funds
£
(203)
4,667
-
4,464
(2,190)
-
-
-
-
(1,987)
(287)
-
(4,464)
-		 At
31.3.21
£
93,532
1,909,566
139,000
2,142,098
-
234
9,404
4,710
2,761
5,997
-
1,600
24,706
2,166,804

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fixed asset fund
Restricted funds
Wight Aid
Southern Housing Group
Community Connector
Connect4 Communities
Third Sector Lifeline (IWC 5000)
National Lottery Covid Response Grant
Isle of Wight Council DEFRA
Clincally Extremely Vulnerable
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
691,155
(598,989)
92,166
1
(42,821)
(42,820)
691,156
(641,810)
49,346
7,315
(5,125)
2,190
1
(1,171)
(1,170)
28,000
(35,401)
(7,401)
10,000
(2,016)
7,984
38,466
(38,179)
287
9,700
(9,700)
-
3,000
(1,400)
1,600
5,256
(5,256)
-
101,738
(98,248)
3,490
792,894
(740,058)
52,836

continued...

Page 18

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Fixed asset fund
Contingency fund
Restricted funds
Gym refurbishment
Defibrillator
Southern Housing Group
Community Connector
Kick Out The Calories
TOTAL FUNDS		 At 1.4.19
£
59,222
1,826,362
154,000
2,039,584
33,297
234
7,370
-
-
40,901
2,080,485		 Net
movement
in funds
£
11,044
(42,894)
-
(31,850)
47,257
-
3,204
12,111
2,761
65,333
33,483		 Transfers
between
funds
£
(68,697)
164,251
(15,000)
80,554
(80,554)
-
-
-
-
(80,554)
-		 At
31.3.20
£
1,569
1,947,719
139,000
2,088,288
-
234
10,574
12,111
2,761
25,680
2,113,968

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fixed asset fund
Restricted funds
People's Project
Gym refurbishment
Southern Housing Group
Community Connector
Kick Out The Calories
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
777,367
(766,323)
11,044
-
(42,894)
(42,894)
777,367
(809,217)
(31,850)
3,000
(3,000)
-
54,314
(7,057)
47,257
17,250
(14,046)
3,204
40,000
(27,889)
12,111
4,000
(1,239)
2,761
118,564
(53,231)
65,333
895,931
(862,448)
33,483

Unrestricted Funds

The fixed asset fund represents the net book value of fixed assets available for the unrestricted purposes of the charity. These assets, comprising in large part of the property the centre operates from, are essential to the running of the charity but do not represent liquid funds the charity can use to cover running costs.

The repairs contingency fund represents funds set aside as provision against potential repairs costs arising in respect of the centre. The fund is reviewed annually by the trustees and takes in to account the maintenance plan and current costs of recent expenditure.

continued...

Page 19

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

21. MOVEMENT IN FUNDS - continued

Restricted Funds

Wight Aid provided funding this year in support of the provision of hot meals to those in the community in need, as well as the provision of a community sewing project and purchase of it equipment needed by the centre.

The Defibrillator fund was recieved for the purchase of a defibrillator in a previous year and remaining funds will be utilised against servicing and maintenance costs of the equipment.

The Southern Housing Group fund is for the development of sustainable funding for the centre and in support of increasing work and volunteering opportunities in the local community.

The Community Connector fund is for the provision of an employee to support community members who are isolated, getting them more involved in the community and helping them to achieve their idea of a good life.

The Kick Out the Calories fund is for the delivery of a football league for adults who want to be more active, more often. The aim of the league is to help those adults get fitter, lose weight and enjoy playing football.

The Connect 4 Communities funds were recieved for the provision and development of community support during the year.

The Third Sector Lifeline funds were recieved from the Isle of Wight Council to support the operation of the centre as a community support hub, and to allow for the provision of hot meals to those in need in the community.

Isle of Wight Council DEFRA funding was provided to allow for the provision and support of those in need in the community and was used to provide food vouchers to those in need.

The Gym refurbishment fund was funding recieved as sponsorships and donations for the "Extend Our Gym" project that was completed in the year to 31 March 2020.

Transfers between funds

During the year, the following amounts were transferred between funds:

£1,080 was transferred from the Connect 4 Communities fund to the General Fund to reflect a proportion of overheads and centre running costs recoverable against this fund.

£287 was transferred from Third Sector Lifeline (IWC 5000) to reflect costs expended in March 2020 in connection with this funding that were not identified as such in that year's accounts.

All remaining transfers represent funds totalling £4,667 being transferred from funds to the fixed asset reserve to reflect the cost of equipment purchased from those funds. Although purchased in some cases from restricted funds of the charity the equipment once purchased is available for the general use of the charity.

continued...

Page 20

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

22. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 21

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 77,472 - 77,472 34,858
Grants 236,056 101,738 337,794 111,250
Sponsored events 20,254 - 20,254 26,974
Freshwater Parish Council donation 40,000 - 40,000 40,000
Totland Parish Council donation 10,000 - 10,000 10,000
Yarmouth Parish Council donation 7,426 - 7,426 7,140
Shalfleet Parish Council donation 3,000 - 3,000 1,500
394,208 101,738 495,946 231,722
Other trading activities
Cafe sales 13,848 - 13,848 60,302
Retail sales 4,251 - 4,251 12,971
Leased rentals 17,479 - 17,479 17,268
Car parking income 13,984 - 13,984 26,478
Other activities 7,373 - 7,373 14,699
56,935 - 56,935 131,718
Investment income
Investment interest 173 - 173 1,132
Charitable activities
Memberships and centre fees 216,586 - 216,586 498,104
Room hire 23,254 - 23,254 33,255
239,840 - 239,840 531,359
Total incoming resources 691,156 101,738 792,894 895,931
EXPENDITURE
Raising donations and legacies
Fund raising expenses 3,117 - 3,117 15,025
Other trading activities
Purchases 12,718 - 12,718 41,998
Wages 2,617 - 2,617 18,494
Cafe expenses and equipment 13 - 13 783
15,348 - 15,348 61,275
Charitable activities
Wages 405,045 32,457 437,502 435,484
Carried forward 405,045 32,457 437,502 435,484

This page does not form part of the statutory financial statements

Page 22

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Charitable activities
Brought forward 405,045 32,457 437,502 435,484
Social security 17,112 2,780 19,892 20,630
Other operating leases 1 - 1 445
Rates and water 9,767 - 9,767 12,487
Insurance 12,946 2,674 15,620 12,392
Light and heat 41,763 8,627 50,390 55,061
Telephone 2,179 809 2,988 2,190
Postage and stationery 1,792 371 2,163 4,287
Advertising 905 86 991 3,535
Sundries 6,449 320 6,769 5,446
Chlorine and acid 3,497 - 3,497 8,486
Covid Support Costs - 12,167 12,167 -
Centre activities 8,782 35,401 44,183 83,775
Training 360 240 600 3,936
Cleaning and waste disposal 3,572 739 4,311 6,790
Repairs and renewals 27,858 177 28,035 43,507
Irrecoverable VAT 18,415 - 18,415 25,028
Subscriptions 7,418 - 7,418 9,578
Bank charges and interest 2,015 - 2,015 1,936
Accountancy 6,378 - 6,378 5,975
Legal and professional fees 4,270 - 4,270 1,884
Bad debts - - - 402
Depreciation of tangible fixed assets 42,821 - 42,821 42,894
Grants to individuals - 1,400 1,400 -
623,345 98,248 721,593 786,148
Total resources expended 641,810 98,248 740,058 862,448
Net income 49,346 3,490 52,836 33,483

This page does not form part of the statutory financial statements

Page 23