REGISTERED CHARITY NUMBER: 282839
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MARCH 2022
FOR
FISHERMEAD TRINITY CENTRE
FISHERMEAD TRINITY CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] MARCH 2022
| 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 - 14 |
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FISHERMEAD TRINITY CENTRE REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31[st] MARCH 2022
The trustees present their report with the financial statements of the charity for the year ended 31[st] March 2022. 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
M R Petchey D Kendrick Rev T Norwood H Elbers[(appointed 21st July 2021)] D J Mahon[(appointed 21st July 2021)]
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 continued to feel the impact of the pandemic. Although the Covid-19 restrictions eased during the financial year the Centre was still impacted by the rapidly changing guidance applied to public venues. The hall hires that were accepted complied with the guidance relevant at the time of the booking.
It should be noted the Centre no longer enjoyed the support of the government’s Business Support Package grants and the furlough scheme during the reported Financial Year.
E. FINANCIAL REVIEW
Policy on reserves
The cash at the bank is £5,986, which represents £4,925 of general, unrestricted funds and a balance of £1,061 of restricted funds split between the Community Garden and Community Larder.
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. £7,395 based on 2021/22 activity), believing that this provides a prudent buffer against unforeseen expenditure. The funds currently held are below the policy threshold but the recovery from the Covid-19 restrictions plays a considerable part in this policy shortfall.
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 deficit of £6,588 (2021; £2,213 surplus) during the year.
The pandemic has continued to negatively impact the Centre activity during the Financial Year. The departure of the Centre manager in August 2021 also had a negative impact on the utilisation of the Centre despite volunteers taking on the day to day operations. The Government’s Business Support Package ceased in March 2021 so the safety net protecting against lost income due to the lockdown ceased at the end of the prior financial year.
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The 2021/2022 Financial Year also saw the end of the furlough scheme so the Centre returned to paying the full staff costs. The departure of the manager in August eased the employment costs but adversely impacted the income generated. A small pool of volunteers took over running the Centre but the hire activity was constrained by the availability of those volunteering. However, the trustees appreciated all the efforts of those who stepped in to maintain the operation of the building for the remainder of the financial year.
ON BEHALF OF THE BOARD
Trustee: …………………………
D.J.Mahon
27[th] January 2023
Date: …………………………
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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trust••sl members of Trfnlty Centre Trusl On accounts for the year ended Charlty no {If any) 31st March 2022 282839 Set out on pages 8-14 I report to the twslees on my examination of the accounts of the atrt)ve Gharty (Ihe Trusfl for the year ended 3111212022 Responslbilltles and basis of report As the charivs trustees. you are reswnsible forthe preparation of the accounts in accordance wth the requirements of the Charities Act 2011 {1he Act.). I report m respect of my exaMina.0n of the Tntst's acLX)unts Cated out under sedion 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directsons given by the Charity Commission under sec*ion 145l51{bl of the Act. Independent he charivs gross inca)me exceeded £250,OtM) and l am qualif to examiner's statement undertake the examination by being a qualified member of linswt name of appliGable listed body]]. Delate [ ] rfnot applicable. I have Gompleted my examination. I nfim7 that no material matters have come lo my attention in c£snnection with the examination (other than th disdosed below'} which gives me cause to believe that in. any mat¥ial respect.. the acLx)unbng re¢ord$ were not kept in aCa)rdan vith sectK)n 130 of the Charrties AGI- or the accounts not a0[d with the a¢c>)untirwJ records: or the aCCnts djd not comply wth the app15cable requirements nGeming the fom and content of accounts set wt in the Chwities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fai¢ view which is not a matter considered as part of an indendent examination. I have no o)nceTns and have come across no other mattets in 1fteI with the examinatlon to 1¢h attentn should be drawn in this rew1 ri order to enable a proper understanding of the acuntS to be re&hed. ' Pl&a$8 delete the ds in th8 brackets rfth8y (t+ not appty. Slgned: Dat•: Nam•: Mr Timothy May R•l•vant professlonal quallficatlon(s) or body M.B.A. IER Oct 2018
Ilf any): Address: 7 Sandown Court Bletchley Milton Keynes, MK3 5LZ Section B Disclosure Only complete Il the examiner needs lo highlight material mallers of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examinerwishes to disclose. IER Oct 2018
FISHERMEAD TRINITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31[st] MARCH 2022
| Notes Unrestricted Funds £ INCOMING RESOURCES Incoming Resources from Generated Funds Voluntary Income 302 Insurance Claim 0 Activities for Generating Funds 2 22,691 Total Incoming Resources 22,993 RESOURCES EXPENDED Governance Costs 274 Other Resources Expended 29,307 Total Resources Expended 29,581 NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS 8 (6,588) Transfers between Funds 0 Net Incoming/(Outgoing) Resources (6,588) RECONCILIATION OF FUNDS Total Funds Brought Forward 15,101 TOTAL FUNDS CARRIED FORWARD 8,513 |
Restricted Funds £ 4,410 0 0 4,410 0 3,676 3,676 734 0 734 327 1,061 |
2022 Total Funds £ 4,712 0 22,691 27,403 274 32,983 33,257 (5,854) 0 (5,854) 15,428 9,574 |
2021 Total Funds £ 24,494 0 5,779 |
|---|---|---|---|
| 30,273 562 27,248 |
|||
| 27,810 2,463 0 |
|||
| 2,463 12,965 |
|||
| 15,428 |
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FISHERMEAD TRINITY CENTRE
BALANCE SHEET
AT 31[st] MARCH 2022
| 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 £ 478 4,925 1,420 6,345 670 5,675 6,153 6,153 |
Restricted Funds £ - 1,061 2,360 3,421 - 3,421 3,421 3,421 |
2022 Total Funds £ 478 5,986 3,780 9,766 670 9,096 9,574 9,574 6,153 3,421 9,574 |
2021 Total Funds £ 672 16,324 30 |
|---|---|---|---|---|
| 16,354 1,598 |
||||
| 14,756 | ||||
| 15,428 | ||||
| 15,428 | ||||
| 15,101 327 |
||||
| 15,428 |
The financial statements were presented to the Trustees 25[th] January 2023 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 2022
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 |
2022 £ 22,690 1 22,691 |
2021 £ 5,775 4 5,779 |
|---|---|---|
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31s MARCH 2022
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remunerations or other benefits for the year ended 31[st] March 2022 nor for the year ended 31[st] March 2021.
Trustees' Expenses
There were no trustees' expenses paid for the year ended 31[st] March 2022 nor for the year ended 31[st] March 2021.
4. STAFF COSTS
| Wages and Salaries Work Place Pension Furlough Scheme Total Payroll |
2022 £ 11,229 843 (1,339) . 10,733 |
2021 £ 17,153 1,445 (7,751) . 10,847 |
|---|---|---|
5. TANGIBLE FIXED ASSETS
| Plant and Machinery |
Fixtures and Fittings |
Fixtures and Fittings |
Computer Equipment |
Computer Equipment |
Total | |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1st April 2021 | 322 | 52,621 | 1,872 | 54,815 | ||
| Disposals in year | - | - | - | 0 | ||
| Additions | - | - | 106 | 106 | ||
| At 31stMh 2022 | 322 | 52621 | 1978 | 54921 | ||
| arc | , | , | , | |||
| DEPRECIATION | ||||||
| At 1st April 2021 | 309 | 51,989 | 1,845 | 54,143 | ||
| Disposals in year | - | - | - | 0 | ||
| Charge for Year | 4 | 252 | 44 | 300 | ||
| At 31stMh 2022 | 313 | 52241 | 1889 | 54443 | ||
| arc | , | , | , | |||
| NET BOOK | ||||||
| VALUE | ||||||
| At 31st March 2022 | 9 | 380 | 89 | 478 | ||
| At 31t Mh 2021 | 13 | 632 | 27 | 672 | ||
| s arc |
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31s MARCH 2022
6. DEBTORS; AMOUNTS DUE AT FINANCIAL YEAR END
Hall Hire Community Garden Grant application |
2022 General Fund £ 1,420 0 - 1,420 |
2022 Restricted Fund £ 0 2,360 - |
2021 General Fund £ 30 0 30 |
|---|---|---|---|
| 2,360 |
7. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR
| Waste Collection Insurance Premium March Salary Costs Shutter Repair Hall Hire paid in advance |
2022 £ 166 504 0 0 0 670 |
2021 £ 88 0 112 798 600 1,598 |
|---|---|---|
8. MOVEMENT IN FUNDS
| Unrestricted General Fund Restricted Funds: Community Larder Community Garden Total Funds |
Net At 1stApril Movement 2021 in Funds £ £ 15,101 (6,588) 0 500 327 234 15,428 (5,854) |
Transfers Between 31stMarch Funds 2022 £ £ - 8,513 - 500 - 561 - 9,574 |
|---|---|---|
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31[st] MARCH 2022
| INCOMING RESOURCES Voluntary Income Grants Donations 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 £ 0 302 - 22,690 1 22,993 100 72 172 952 3,797 211 4,960 10,733 0 2,112 504 5,374 1,339 515 115 1,106 1,241 23,039 561 549 252 44 4 300 29,581 (6,588) |
Restricted Funds £ 4,160 250 - - - 4,410 - - 0 - 16 292 308 - - - - - 2,266 66 - - - 2,332 - 1,036 - - - 0 3,676 734 |
2022 Total £ 4,160 552 0 22,690 1 27,403 100 72 172 952 3,813 503 5,268 10,733 0 2,112 504 5,374 3,605 581 115 1,106 1,241 25,371 561 1,585 252 44 4 300 33,257 (5,854) |
2021 Total £ 24,494 0 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 |
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FISHERMEAD TRINITY CENTRE
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31[st] MARCH 2022
| Restricted Funds Analysis INCOMING RESOURCES Voluntary Income Grants Donations Total Incoming Resources RESOURCES EXPENDED Other Resources Expended Repairs, Renewals and Maint Regeneration and Refurbishment Telephone/Broadband Postage, Stationery and Advertising IT Costs Total Resources Expended Net Income/(Expenditure) |
2022 Community Garden £ 250 0 0 0 250 16 0 0 0 0 0 0 0 0 0 16 0 234 |
2022 Internet Café £ 3,410 0 250 0 3,660 0 0 292 0 2,266 0 66 0 1036 0 3,660 0 |
2022 Community Larder £ 500 0 0 0 500 0 0 0 0 0 0 0 0 0 0 0 500 |
2022 Restricted Total £ 4,160 250 |
|---|---|---|---|---|
| 4,410 16 292 2,266 66 1,036 |
||||
| 3,676 | ||||
| 734 |
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