**Charity Registration No. 291433**
**Company Registration No. 01449394 (England and Wales)**
# **THE STOCKWELL CENTRE (COLCHESTER) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2020**
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Members Of Council**|Mr N W Cornes|
|---|---|
||Mr R O Bartholomew|
||Dr S Randall|
||Dr J T Bisdee|
||Mr B R Edwards|
|**Secretary**|Marion Bayliss (Resigned 30th June 2020)|
||Gillian Wicks (Appointed 30th June 2020)|
|**Charity number**|291433|
|**Company number**|01449394|
|**Registered office**|The Stockwell Centre|
||44 East Stockwell Street|
||Colchester|
||Essex|
||CO1 1SR|
|**Independent examiner**|Rachel Skells BA FCA|
||Whittle & Partners LLP|
||The Old Exchange|
||64 West Stockwell Street|
||Colchester|
||Essex|
||CO1 1HE|
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Council Members' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5 - 6|
|Notes to the financial statements|7 - 19|
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **COUNCIL MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
The Members of Council present their report and accounts for the year ended 30 September 2020 and incorporating the reference and administrative information.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association , the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The charity's objectives are concerned with the administration of The Stockwell Centre, which provides consultation and treatment for patients suffering from psychological or emotional disorders, and educational courses in psychodynamic principles and their application in professional practice . The provision of the premises has enabled the professionals to work through The Stockwell Centre during the year to 30 September 20 20,
The policies adopted in furtherance of these objectives are Risk Management; Investment; Vulnerable Beneficiaries; Conflict of Interest; Volunteer Management; Complaints Handling and there has been no change in these during the year.
The Members of Council have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
Details of the activities and the achievements of the charity during the year are given in The Stockwell Centre’s AGM report and a copy of this is available on request.
## **Financial review**
For the year to 30 September 2020, the charity’s unrestricted income exceeded expenditure by £15,161(2019: income exceeded expenditure by £5,851).
The financial statements do not include an evaluation of the voluntary contribution made to the running of The Stockwell Centre by its members. The Members of Council recognise and appreciate this contribution of their time.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to 26 weeks' expenditure. The Members of Council considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Members of Council has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The long term desire remains to provide psychotherapy and counsel l ing for the local community and continue to support the bursary funds.
## **Structure, governance and management**
The charity is a company limited by guarantee , incorporated on 19 September 1979 and granted charitable status by the Charity Commission on 2 May 1985. Its governing document is its Memorandum and Articles of Association, under which the Members of the Council of Management constitute the Charity's Trustees.
- 1 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **COUNCIL MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
The Members of Council, who are also the directors for the purpose of company law, and who served during the year were:
Mr N W Cornes Mr R O Bartholomew Dr S Randall Dr J T Bisdee Mr B R Edwards Mr A C Pullon (Resigned 17 June 2020)
Marion Bayliss was the Company Secretary to 30 June 2020, she was then replaced by Gillian Wicks to 9 October 2020 and then Caroline Hiskey was appointed on 16 November 2020.
New Council Members would be recruited by the Members of the Council for their skills and experience relevant to the Charity's work.
None of the Members of Council ha ve any beneficial interest in the company. All of the Members of Council are members of the company and guarantee to contribute £1 0 in the event of a winding up.
The Chair of the Practice Committee reports directly to the Members of Council and gives regular reports on the general running of The Stockwell Centre (Colchester) Limited at the quarterly Members of Council meetings.
The Council Members' r eport was approved by the Board of Members Of Council.
**Mr N W Cornes** Council Member Dated: 22 March 2021
- 2 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE MEMBERS OF COUNCIL OF THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
I report to the Members of Council on my examination of the financial statements of The Stockwell Centre (Colchester) Limited (the charity) for the year ended 30 September 2020.
## **Responsibilities and basis of report**
As the Members of Council of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
Rachel Skells BA FCA
Whittle & Partners LLP The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE
Dated: 22 March 2021
- 3 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
11,791
235
Charitable activities
**4**
36,132
11,140
Investments
**5**
223
7
**Total income**
48,146
11,382
**Expenditure on:**
Charitable activities
**6**
32,985
14,205
**Net incoming/**
**(outgoing) resources**
**before transfers**
15,161
(2,823)
Gross transfers between
funds
(850)
850
**Net income/(expenditure) for**
**the year/**
**Net movement in funds**
14,311
(1,973)
Fund balances at 1
October 2019
140,379
9,657
**Fund balances at 30**
**September 2020**
154,690
7,684|**Total**Unrestricted
Restricted
funds
funds
**2020**
2019
2019
**£**
**£**
**£**
12,026
830
350
47,272
42,861
12,310
230
211
14
59,528
43,902
12,674
47,190
38,051
21,248
12,338
5,851
(8,574)
-
(2,695)
2,695
12,338
3,156
(5,879)
150,036
137,223
15,536
162,374
140,379
9,657|Total
2019
**£**
1,180
55,171
225
56,576
59,299
(2,723)
-
(2,723)
152,759
150,036|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **BALANCE SHEET**
## _**AS AT 30 SEPTEMBER 2020**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**15**
**Net assets**
**Income funds**
Restricted funds
**17**
Unrestricted funds|**2020**
**£**
3,198
46,812
50,010
(5,350)|**£**
159,435
44,660
204,095
(41,721)
162,374
7,684
154,690
162,374|**2019**
**£**
4,209
36,886
41,095
(5,786)|**£**
159,583
35,309
194,892
(44,856)
150,036
9,657
140,379
150,036|
|---|---|---|---|---|
- 5 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **BALANCE SHEET (CONTINUED)**
## _**AS AT 30 SEPTEMBER 2020**_
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2020.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Members Of Council on 22 March 2021
Mr N W Cornes
**Trustee**
## **Company Registration No. 01449394**
- 6 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **1 Accounting policies**
## **Charity information**
The Stockwell Centre (Colchester) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Stockwell Centre, 44 East Stockwell Street, Colchester, Essex, CO1 1SR.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Members of Council have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Members of Council continue to adopt the going concern basis of accounting in preparing the financial statements.
_Going concern and COVID-19_
The coronavirus pandemic has significantly disrupted individuals’ personal lives and businesses’ economic prospects in the UK and across the globe. The UK entered lockdown in March 2020 and some restrictions and social distancing provisions remain in place.
T he charity has been negatively affected by COVID-19 and has had to move to a mixture of remote and face to face counselling. We have suffered a loss in income due to a reduced number of referrals during lockdown and lack of public confidence in returning to face to face work. Whilst closed, The Centre has also lost revenue from Non-Member Room Renters.
We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely operating conditions for a period of twelve months from the date of our approval of these accounts .
- 7 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Members of Council in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- Consulting room rents are included by reference to the month to which they relate. Restricted grants are recognised on receipt. Gift Aid recoveries on donations from individuals (including through fundraising) are recognised in the same period as the donation.
- Donated services and facilities are included at their value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these financial statements.
- Investment income is included when receivable and comprises bank interest.
## **1.5 Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes nonrecoverable VAT, and is reported as part of the expenditure to which it relates:
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% straight line
Provision for depreciation of the freehold property is not considered by the Members of the Council to be necessary as the estimated useful life exceeds fifty years. It is the company policy to have its property maintained in good condition, which prolongs its useful life and any depreciation arising would not be material.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
- 8 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.8 Financial instruments**
Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.
Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
## **1.10 Taxation**
As a charity, the company is exempt from tax on income and gains falling within Sec 505 of the Taxes Act 1998 or Sec 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax charges have arisen in the charity.
## **1.11 Fund accounting**
- Unrestricted funds are available for use at the discretion of the Members of Council in furtherance of the general objectives of the charity.
- Restricted funds are subjected to restrictions on their expenditure imposed by the donor, or contained in the terms of a grant.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Members of Council are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 9 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**Total**Unrestricted
Restricted
**funds**
**funds**
funds
funds
**2020**
**2020**
**2020**
2019
2019
**£**
**£**
**£**
£
£
Donations and gifts
1,791
235
2,026
830
350
Government grants
10,000
-
10,000
-
-
11,791
235
12,026
830
350
**Charitable activities**
**Consulting**
**room rents**
**Contract**
**fees**
**Courses and**
**lectures**
**Total**
**2020**
**£**
**£**
**£**
**£**
Sales within charitable activities
42,254
4,673
345
47,272
Analysis by fund
Unrestricted funds
31,114
4,673
345
36,132
Restricted funds
11,140
-
-
11,140
42,254
4,673
345
47,272
**For the year ended 30 September 2019**
Unrestricted funds
37,634
3,877
1,350
Restricted funds
12,310
-
-
49,944
3,877
1,350|Total
2019
£
1,180
-|
|---|---|
||1,180|
||**Total**
**2019**
**£**
55,171|
||42,861
12,310|
||55,171|
## **4 Charitable activities**
- 10 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **5 Investments**
||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||**funds**|**funds**||funds|funds||
||**2020**|**2020**|**2020**|2019|2019|2019|
||**£**|**£**|**£**|£|£|£|
|Interest receivable|223|7|230|211|14|225|
- 11 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **6 Charitable activities**
|**Provision of**
**consulting**
**rooms**
**Contract**
**fees passed**
**on**
**Courses and**
**lectures**
**Catalyst and**
**Bursary**
**fund grants**
**£**
**£**
**£**
**£**
Staff costs
17,837
-
-
-
Depreciation
148
-
-
-
Rates
467
-
-
-
Insurance
1,153
-
-
-
Light and heat
1,512
-
-
-
Repairs and
maintenance
1,877
-
-
-
Postage and stationery
495
-
-
-
Telephone
481
-
-
-
Sundry expenses
825
-
-
-
Cleaning
2,343
-
-
-
Bank interest
1,297
-
-
-
Contract fees
-
2,370
-
-
Lecture expenses
-
-
270
-
28,435
2,370
270
-
Grant funding of
activities (see note 7)
-
-
-
14,205
Share of governance
costs (see note 8)
1,910
-
-
-
30,345
2,370
270
14,205
**Analysis by fund**
Unrestricted funds
30,345
2,370
270
-
Restricted funds
-
-
-
14,205
30,345
2,370
270
14,205
**For the year ended 30 September 2019**
Unrestricted funds
34,839
2,505
707
-
Restricted funds
-
-
-
21,248
34,839
2,505
707
21,248|**Total**
**2020**
**£**
17,837
148
467
1,153
1,512
1,877
495
481
825
2,343
1,297
2,370
270
31,075
14,205
1,910
47,190
32,985
14,205
47,190|**Total**
**2019**
**£**
16,093
148
463
1,181
1,458
8,092
293
867
650
2,805
1,541
2,505
707|
|---|---|---|
|||36,803
21,248
1,248|
|||59,299|
|||38,051
21,248|
|||59,299|
- 12 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **7 Grants payable**
|Grants to individuals|**2020**
**£**
14,205
14,205|**2019**
**£**
21,248|
|---|---|---|
|||21,248|
## **8 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
1,910
-
1,910
Analysed between
Charitable activities
-
1,910|**2020**
**£**
1,910
1,910
1,910|**2019 Basis of allocation**
**£**
1,248 Governance
1,248
1,248|
|---|---|---|
Governance costs includes fees for the independent examiners and bookkeeping assistance of £ 1,910 (2019£ 1,248 ) .
## **9 Members Of Council**
None of the Members of Council (or any persons connected with them) received any remuneration , benefits or expenses from the charity during the year.
## **10 Employees**
The average monthly number of employees during the year was:
||**2020**|**2019**|
|---|---|---|
||**Number**|**Number**|
|Administration|1|1|
|**Employment costs**|**2020**|**2019**|
||**£**|**£**|
|Wages and salaries|17,837|16,093|
There were no employees whose annual remuneration was £60,000 or more.
- 13 -
**THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
|**11**
**Tangible fixed assets**
**Land and**
**buildings**
**Fixtures,**
**fittings &**
**equipment**
**£**
**£**
**Cost**
At 1 October 2019
159,090
15,706
At 30 September 2020
159,090
15,706
**Depreciation and impairment**
At 1 October 2019
-
15,213
Depreciation charged in the year
-
148
At 30 September 2020
-
15,361
**Carrying amount**
At 30 September 2020
159,090
345
At 30 September 2019
159,090
493
**12**
**Debtors**
**2020**
**Amounts falling due within one year:**
**£**
Trade debtors
2,388
Prepayments and accrued income
810
3,198
**13**
**Creditors: amounts falling due within one year**
**2020**
**Notes**
**£**
Bank loans
**14**
2,650
Deferred income
**16**
-
Other creditors
360
Accruals and deferred income
2,340
5,350|**Total**
**£**
174,796|
|---|---|
||174,796|
||15,213
148|
||15,361|
||159,435|
||159,583|
||**2019**
**£**
3,427
782|
||4,209|
||**2019**
**£**
2,650
333
460
2,343|
||5,786|
- 14 -
**THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
|**14**
**Loans and overdrafts**
Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments|**2020**
**£**
41,871
2,650
39,221
22,839|**2019**
**£**
45,006|
|---|---|---|
|||2,650
42,356|
|||26,253|
The bank mortgage is secured by a fixed charge on the company's freehold property. It is repayable by September 2032.
## **15 Creditors: amounts falling due after more than one year**
|**Notes**
Bank loans
**14**
Other creditors|**2020**
**£**
39,221
2,500
41,721|**2019**
**£**
42,356
2,500|
|---|---|---|
|||44,856|
The accrual of £2,500 is the residue of monies (originally £30,000) owed to the estate of the late Dr D Paulley. Previous negotiations with Dr Paulley's family for a reduction of the loan secured by a second charge she had on the company's freehold property have been inconclusive. If not concluded satisfactorily the company could have a further contingent liability on the sale of the property (an event not currently planned for by the Members of Council). The Members of Council have made the Charity Commissioners aware of this matter.
- 15 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
|**16**|**Deferred income**||||
|---|---|---|---|---|
|||**2020**||**2019**|
|||**£**||**£**|
||Other deferred income|-||333|
||Deferred income is included in the financial statements as follows:||||
|||**2020**||**2019**|
|||**£**||**£**|
||Current liabilities|-||333|
||Deferred income represents amounts received in advance for contract fees from the||Diocese of||
||Chelmsford.||||
- 16 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **17 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Balance at**
**1 October 2018**
**£**
Colchester Catalyst Charity
2,596
Centre Bursary Fund
6,995
Low Fee Scheme
155
The Burton Trust
5,790
15,536|**Movement in funds**
**Income**
**Expended**
**Transfers**
**Balance at**
**1 October 2019**
**£**
**£**
**£**
**£**
11,540
(12,050)
-
2,086
364
(5,138)
3,000
5,221
930
(690)
(305)
90
-
(3,530)
-
2,260
12,834
(21,408)
2,695
9,657|**Movement in funds**
**Income**
**Expended**
**Transfers**
**Balance at**
**30 September**
**2020**
**£**
**£**
**£**
**£**
10,410
(9,990)
-
2,506
242
(2,350)
-
3,113
770
(1,665)
850
45
-
(240)
-
2,020
11,422
(14,245)
850
7,684|
|---|---|---|
The Members of the Council have resolved to transfer £850 (2019: £2,695) in the year into the Centre Bursary Fund and Low Fee Scheme out of their unrestricted funds.
- 17 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
## **17 Restricted funds**
**(Continued)**
## **Centre Bursary Fund**
Applications are made from the Bursary Fund to assist in the funding of courses of therapy at the Centre which the client would not otherwise be able to pay for in full.
## **Colchester Catalyst Charity**
Grants are received from Colchester Catalyst Charity to fund counselling provided by The Stockwell Centre.
## **Low Fee Scheme**
Expenditure on the Low Fee Scheme is used to assist the funding of counselling at the Centre which the client would not be able to pay for in full .
## **The Burton Trust**
Grants are received from the the Burton Trust to fund counselling provided by the Stockwell Centre.
- 18 -
## **THE STOCKWELL CENTRE (COLCHESTER) LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2020**_
|**18**
**Analysis of net assets between funds**
**Unrestricted**
**Restricted**
**2020**
**2020**
**£**
**£**
Fund balances at 30
September 2020 are
represented by:
Tangible assets
159,435
-
Mixed motive
investments
-
-
Current assets/
(liabilities)
36,976
7,684
Long term liabilities
(41,721)
-
154,690
7,684|**Total**Unrestricted
Restricted
**2020**
2019
2019
**£**
£
£
159,435
159,583
-
-
(9,657)
9,657
44,660
35,309
-
(41,721)
(44,856)
-
162,374
140,379
9,657|Total
2019
£
159,583
-
35,309
(44,856)
150,036|
|---|---|---|
## **19 Related party transactions**
There were no disclosable related party transactions during the year (2019 - none).
- 19 -