REGISTERED CHARITY NUMBER: 282839
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MARCH 2021
FOR
FISHERMEAD TRINITY CENTRE
FISHERMEAD TRINITY CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 3 - 5 |
| Independent Examiner's Report | 6 - 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 12 |
| Detailed Statement of Financial Activities | 13 |
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FISHERMEAD TRINITY CENTRE REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31[st] MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31[st] March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2011.
A. REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number:
282839
Principal Address
Fishermead Boulevard Fishermead Milton Keynes MK6 2LA
Trustees
Cllr C Tallack M Nussbaum M R Petchey D Kendrick Rev T Norwood H Elbers D J Mahon
Independent Examiner
Timothy May 7 Sandown Court Bletchley Milton Keynes MK3 5LZ
B. STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated 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.
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C. OBJECTIVES AND ACTIVITIES
The core objective of the charity is the operation of a Community Hall in Fishermead, Milton Keynes.
To provide facilities for recreation and leisure time for the inhabitants of Fishermead and its immediate neighbourhood, together with the advancement of the Christian religion by provision of facilities for the Church of England, the Methodist Church, the Baptist Church and the United Reformed Church.
Public benefit that is provided by the charity
The trustees confirm that they have given their due consideration to the Charity Commission guidance on the operation of the Public Benefit requirement.
D. ACHIEVEMENTS AND PERFORMANCE
The Community Asset Transfer of the Centre is still ongoing but the complexities of the various lease arrangements attached to the current trust continue to delay the progress of the transfer. Whilst the transfer process is still ongoing all significant renovation and refurbishment plans remain on hold. Like many organisations the Centre has felt the impact of the pandemic. The Covid-19 restrictions meant the Centre was closed for several months during the financial year. Bookings were accepted that complied with the guidance relevant at the time of the booking.
The Centre did however benefit from the government’s Business Support Package grants and the furlough scheme.
E. FINANCIAL REVIEW
Policy on reserves
The cash at the bank is £16,324, which represents £15,997 of general, unrestricted funds and a balance of £327 of the Community Garden grant.
Only the unrestricted general funds meets the Charity Commission’s definition of reserves. The trustees seek to maintain reserves at not less than three months’ general fund expenditure (i.e. £6,890 based on 2020/21 activity), believing that this provides a prudent buffer against unforeseen expenditure. The funds held are currently above the policy threshold.
Investment Policy
To invest the unused funds in secure interest bearing deposit accounts. To hold these in secure and ethical funds in accordance with the Trust Deeds.
Review
The General Fund net incoming/(outgoing) resources amounted to a surplus of £2,213 (2020; £8,185 deficit) during the year.
The pandemic impacted the Centre usage during the Financial Year delivering a significant reduction to income. The lost income was replaced by the Government’s Business Support Package grants.
The part time staff member, appointed in April 2019, was employed on a one year temporary contract. Sadly the revenue streams did not permit an extension to the appointment so the Centre deployment returned to one full time employee at the commencement of the 2020/2021 Financial Year.
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The closure of the building delivered savings on Light and Heat and Cleaning. The furlough claims added to the Accountancy and Bookkeeping charges. The CCTV surveillance was upgraded during the period and the annual servicing continued through lockdown so Repairs, Renewals and Maintenance rose slightly on the prior year.
The lockdown guidance meant that the Church and community collaboration on the landscaping work around the Centre had to be put on hold.
ON BEHALF OF THE BOARD
Trustee: …………………………
27[th] January 2022 Date: …………………………
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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to tho trusteesl membors of Trinity Centre Trust On accounts for the year •nded Charity no (if any) 31st March 2021 282839 Set out on pa90$ 8-13 I report to the trustees on my examination ofthe accounts of the above charty Trusf) for the year ended 31•t March 2021. AS th8 Ghaiity's twstees. you are responsible for the preparation of the accounts in accordan with the tequiiements of Ihe Charities AGt 2011 (Ihe A¢r}. Responsibilities and basis of réport I report in respect of my examination of the Trust's accounts carried oul under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Dirertions given by the Charity Commission urKler 8edion 145{5}(b) of the Act. Indopgnd•nt lThe tharity's gross incijne exceeded £250,000 and l am qualified to oxamlnevs statement undertake the examination by being a qualffi8d member of linsert name of applicable Ilsled body]l- Del8te I l rfnol applicable. I have completed my examinalion. I confimi that no material matters have come to my attention in connection with the examination1olhePt di6610*.) which gives me cause to believ8 Ihat in, any material re$pEcl". the accounting records were not kept in accordance Ihllth section 130 of the Charrties Act- or the accounts dKI not accord with the accounting records.. or the accounts did not comply wrth the applicable requirements conceming the fomi and content of accourrts Set out in the Chartties {AwJunts and Reports) Regulations 2008 other than any requiremenl that the accounts give a Irue and fair. view which is not a matter consmlered as part of an independent examination. I hav8 no concems arKI have come across no other mattefs in ¢onnecti( wilh the examination to which attention should b2 drawn in this report in order to enable a proFer understanding of the ac¢owt5 to be reached. . Ple8se d61lets the words In the br8ckets rflhey do not appty. Sign•d: Nama:
Relevant professional qualification(s) or body (if any):
M.B.A.
Address:
7, Sandown Court Bletchley Milton Keynes, MK3 5LZ
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
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FISHERMEAD TRINITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31[st] MARCH 2021
| Notes Unrestricted Funds £ INCOMING RESOURCES Incoming Resources from Generated Funds Voluntary Income 23,994 Insurance Claim 0 Activities for Generating Funds 2 5,779 Total Incoming Resources 29,773 RESOURCES EXPENDED Governance Costs 562 Other Resources Expended 26,998 Total Resources Expended 27,560 NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS 8 2,213 Transfers between Funds 0 Net Incoming/(Outgoing) Resources 2,213 RECONCILIATION OF FUNDS Total Funds Brought Forward 12,888 TOTAL FUNDS CARRIED FORWARD 15,101 |
Restricted Funds £ 500 0 0 500 0 250 250 250 0 250 77 327 |
2021 Total Funds £ 24,494 0 5,779 30,273 562 27,248 27,810 2,463 0 2,463 12,965 15,428 |
2020 Total Funds £ 0 0 38,069 |
|---|---|---|---|
| 38,069 336 45,987 |
|||
| 46,323 (8,254) 0 |
|||
| (8,254) 21,219 |
|||
| 12,965 |
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FISHERMEAD TRINITY CENTRE
BALANCE SHEET
AT 31[st] MARCH 2021
| Notes FIXED ASSETS Tangible Assets 5 CURRENT ASSETS Cash at Bank and in Hand Debtors 6 CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted Funds 8 Restricted Funds |
Unrestricted Funds £ 672 15,997 30 16,027 1,598 14,429 15,101 15,101 |
Restricted Funds £ - 327 - 327 - 327 327 327 |
2021 Total Funds £ 672 16,324 30 16,354 1,598 14,756 15,428 15,428 15,101 327 15,428 |
2020 Total Funds £ 1,053 13,896 35 |
|---|---|---|---|---|
| 13,931 2,019 |
||||
| 11,912 | ||||
| 12,965 | ||||
| 12,965 | ||||
| 12,888 77 |
||||
| 12,965 |
The financial statements were presented to the Trustees 25[th] January 2022 and were signed on their behalf by:-
Trustee………………………………..
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FISHERMEAD TRINITY CENTRE NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31s MARCH 2021
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements have been prepared under the historical cost convention and in accordance with the current Financial Reporting Standard. In preparing the financial statements the Trust follows best practice as set out in the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” effective January 2015.
Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended
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.
Plant and Equipment and Computing Equipment on a 33% reducing balance basis.
Fixtures and Fittings are estimated to have a five year life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
2. ACTIVITIES FOR GENERATING FUNDS
| Letting Income Bank Interest |
2021 £ 5,775 4 5,779 |
2020 £ 38,059 10 38,069 |
|
|---|---|---|---|
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31s MARCH 2021
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remunerations or other benefits for the year ended 31[st] March 2021 nor for the year ended 31[st] March 2020.
Trustees' Expenses
There were no trustees' expenses paid for the year ended 31[st] March 2021 nor for the year ended 31[st] March 2020.
4. STAFF COSTS
| Wages and Salaries Work Place Pension Furlough Scheme Total Payroll |
2021 £ 17,153 1,445 (7,751) . 10,847 |
2020 £ 26,837 1,485 - . 28,322 |
|---|---|---|
5. TANGIBLE FIXED ASSETS
| Plant and Machinery |
Fixtures and Fittings |
Fixtures and Fittings |
Computer Equipment |
Computer Equipment |
Total | |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1st April 2020 | 322 | 52,621 | 1,872 | 54,815 | ||
| Disposals in year | - | - | - | 0 | ||
| Additions | - | - | - | 0 | ||
| At 31t Mh 2021 | 322 | 52621 | 1872 | 54815 | ||
| s arc | , | , | , | |||
| DEPRECIATION | ||||||
| At 1st April 2020 | 302 | 51,628 | 1,831 | 53,761 | ||
| Disposals in year | - | - | - | 0 | ||
| Charge for Year | 7 | 361 | 14 | 382 | ||
| At 31t Mh 2021 | 309 | 51989 | 1845 | 54143 | ||
| s arc | , | , | , | |||
| NET BOOK | ||||||
| VALUE | ||||||
| At 31st March 2021 | 13 | 632 | 27 | 672 | ||
| At 31t Mh 2020 | 20 | 993 | 41 | 1054 | ||
| s arc | , |
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FISHERMEAD TRINITY CENTRE NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31s MARCH 2021
6. DEBTORS; AMOUNTS DUE AT FINANCIAL YEAR END
| 2021 £ Hall Hire 30 - 30 7. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Waste Collection 88 March Salary Costs 112 Shutter Repair 798 Hall Hire paid in advance 600 1,598 |
2020 £ 35 - 35 2020 £ 132 138 0 1,749 2,019 |
|---|---|
8. MOVEMENT IN FUNDS
| Unrestricted General Fund Restricted Funds Total Funds |
Net At 1stApril Movement 2020 in Funds £ £ 12,888 2,213 77 250 12,965 2,463 |
Transfers Between 31stMarch Funds 2021 £ £ - 15,101 - 327 - 15,428 |
|---|---|---|
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31s MARCH 2021
| INCOMING RESOURCES Voluntary Income Grants Insurance Activities for Generating Funds Letting Income Bank Interest Total Incoming Resources RESOURCES EXPENDED Governance Costs Accountancy and Bookkeeping Legal and Professional Fees Other Resources Expended Cleaning Repairs, Renewals and Maint Regeneration and Refurbishment Support Costs Management Wages Training Rates and Water Insurance Light and Heat Telephone/Broadband Postage, Stationery and Advertising Sundries Waste Disposal Premises Costs Finance Bank Charges Information Technology IT Costs Other Fixtures and Fittings Depreciation Computer Equipment Depreciation Plant and Equipment Depreciation Total Resources Expended Net Income/(Expenditure) |
Unrestricted Funds £ 23,994 - 5,775 4 29,773 490 72 562 134 4,220 - 4,354 10,847 0 1,310 111 5,055 1,283 650 0 1,093 1,171 21,520 510 232 361 14 7 382 27,560 2,213 |
Restricted Funds £ 500 - - - 500 - - 0 - 250 - 250 - - - - - - - - - - 0 - - - - - 0 250 250 |
2021 Total £ 24,494 0 5,775 4 30,273 490 72 562 134 4,470 0 4,604 10,847 0 1,310 111 5,055 1,283 650 0 1,093 1,171 21,520 510 232 361 14 7 382 27,810 2,463 |
2020 Total £ 0 0 38,059 10 |
|---|---|---|---|---|
| 38,069 192 144 |
||||
| 336 1,118 3,023 0 |
||||
| 4,141 28,322 214 402 108 7,805 1,272 693 0 1,011 957 |
||||
| 40,784 468 202 362 20 10 |
||||
| 392 46,323 |
||||
| (8,254) |
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