Annual Report 2021122 Communlty Ibeln8 MAIDSTONE COMMUNITY SUPPORT CENTRE
Contents
| The Mission and Vision of MCSC | Page 3 |
|---|---|
| Chair’s Report | Page 4 |
| CEO’s Welcome and Report | Page 6 |
| Financial Director's Report | Page 8 |
| Agenda | Page 10 |
| Staff, Trustee & Contact Information | Page 11 |
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The Mission of MCSC
To support Charitable organisations and Community groups to effectively deliver their services to the community of Maidstone and surrounding areas by providing good quality affordable offices and meeting spaces in our Maidstone based community building.
What does this Centre mean to the local community?
MCSC aims to unlock local potential by helping organisations, agencies and groups reach out to the neighbouring population and workforce to promote, to encourage and to educate.
The Home of Community and Voluntary work in the heart of Maidstone
MCSC has been providing office space and services for various charitable organisations and affordable meeting space for local community groups and businesses since 1986.
Our Vision
Working with our Members, Visitors and the Community in our area, Maidstone Community Support Centre aims to provide:
An attractive and affordable office base for charities, voluntary organisations and community groups.
A nurturing and encouraging environment for ideas, partnerships and developments.
A range of innovative and creative community services in response to local needs.
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Chair’s report
During this reporting year we saw a return of activity within the Community Support Centre and the beginnings of recovery from the disturbance caused by the Covid pandemic.
Organisations and individuals took advantage of the number of offices that had become vacant due to the earlier pandemic. An outcome of this churn was to change the profile of those who have chosen to base their activity in Marsham St. We have continued to move away from a predominance of larger organisations to a wider mix of smaller charities and an increased number of individual service providers. This changed profile is expected to bring with it a wider range of service delivery and greater emphasis on our contribution to our community.
Recovery of sessional usage of our halls and meeting rooms was much slower than we had hoped for. Much of this slow recovery was due to a cautious approach to meetings and larger gatherings experienced by our users. Further lifting of restrictions during the year did not provide the increase in bookings we expected.
Notwithstanding the pressures of the pandemic Maidstone Community Support Centre remained open throughout the recent recovery period thereby enabling resident service providers to operate successfully. Tribute is paid to the staff team in enabling this achievement and to trustees for their encouragement.
Major works to the fabric of the building and to the IT infrastructure continued and have been carried over into the following year.
In December 2021 we saw the welcome return of the ‘Café in Marsham St’ named Sonya’s Café after the new proprietor. Sadly, the financial situation for the Café reflected the slow recovery of activity within the centre and thus far has failed to meet expectations.
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We are grateful for the support provided by the borough during this and prior years. MCSC continues to maintain good relations with the borough and through regular meetings seeks to work collaboratively with the borough’s community services.
It remains a principal objective of MCSC to position ourselves as a provider of affordable and secure accommodation. Such accommodation is provided under licence agreements to charities, CICs and the voluntary sector generally. In this objective MCSC is supporting those who wish to deliver front line services within a welcoming and supportive environment.
I am pleased to present the annual report for 2021/22 and take the opportunity to thank the whole of the staff team for their hard work and dedication. I also thank fellow members of the Trustee Board for their support and contribution to our policy and scrutiny discussions.
To all our licence holders and associates may I on behalf of the Board wish you a joyful Christmas and success in all the work you do for our community.
Peter Cox
Chairman
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CEO’s report
The first lockdown of March 23rd 2020 now seems a distant memory, but the effects of the Covid19 pandemic still reverberates across the world and for us in the UK.
It almost seemed impossible at the time that organisations and in particular Charities would be able to recover from the loss of income due to having to close down business or being unable to carry out the functions of their charitable work.
However, MCSC did manage to ride the Covid19 storm and this was due to continued support from those organisations based here, who steadfastly kept going where they could, Local Government Covid Grants, which helped cover some of our loss of income and of course our staff team who stepped into different roles to help keep the building safe for those that had to continue to work and provide essential services.
The 19[th] July 2021 saw all the Government Lockdown restrictions lifted and we did start to see signs of a slow recovery, although MCSC now had over thirty rental offices vacant after groups moved out or downsized due to the Pandemic.
Uptake of our sessional hire spaces proved to be slow, due to people still being very cautious about meeting in groups. There was also the legal requirement to wear face masks in common areas of the building.
December 2021 and the Centre’s cafe re-opened under different management. It was good to see the space come to life again after being empty for so long.
Throughout the remainder of 2021 and into 2022, MCSC received more enquiries regarding our vacant office spaces and by March 2022 we had filled most of the vacancies. One interesting point is that we now have a more diverse range of organisations based here than we did pre
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pandemic, which is excellent news.
Moving forward into this financial year there are many new challenges including the spectre of Covid 19 continuing to have an impact, the huge rise in energy costs, the cost of living crisis and of course the war in Ukraine, which is influencing many of the issues we are now facing. There has never been a more important time for Maidstone Community Support Centre to be operating, giving a base to the organisations that support the wider Community of Maidstone in these difficult times.
MCSC has and will continue to invest heavily in maintaining the building with a project of major works now planned for this summer of 2022. Keeping the building well maintained and safe for the organisations based here, our sessional hirers and visitors is a priority for MCSC.
I would like to take this opportunity to thank all of the MCSC Staff Team and Board of Trustees for their hard work and support over this very difficult period. I would also like to thank all of the organisations based here at MCSC for their patience and support over the past year.
Tad Taberer Chief Executive
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Financial Director’s report 2021/22
It is my pleasure to present the accounts for MCSC for 31[st] March 2022.
We are all continuing to recover from the effects Covid-19 and together with global unrest and the cost of living increases the future remains a challenge. However like always we face these challenges together and with careful planning, prudent budget calculations we will I am sure all be ok.
We have continued to provide the best possible service within the restrictions we faced and at the same time utilised the time to continue to improve the building for our members and user groups. We continue to invest and upgrade the services we offer so that we can all achieve the best working environment within our wonderful community.
We are pleased now that the limitation of services have been removed and we can open the doors once again to wide community that use our facilities. We are committed to ensuring that all our services are back to what they were and to include the Café once again as a hub for the building.
We would like to say a big thank you to you all that have continued to support us as members, service users and of course for the support we have had from the local Borough Council. Tad and the team have worked tirelessly to ensure that we have made the best of what certainly was an interesting time in our lives. We have though learnt together how to work differently, remote meetings via zoom are now the norm and we can blend the new ways of working with our investment in our interactive camera with the traditional way we still also like to meet face to face too. We will embrace the needs of our users to ensure that we continue to stay safe, strong and ensure that we maintain our services to help and
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support the Charitable and Not-for-profit sectors in our area.
We will achieve this in the same manner we always have, by ensuring that the centre is managed and operated to a high standard, that we carefully, prudently and boldly when required manage the finances to ensure that we achieve our charitable purpose. The finance team at MCSC have again kept a very safe control of the income and expenditure and we have been able to achieve our budgets in these uncertain times and our strong reserves to ensure the future stability.
May I wish you all every success with your own organisations for the rest of this financial year and many years to come and together we can build strong and stable charitable sector in Maidstone.
Barry Snashall
Finance Director
A full copy of our accounts will be available on our website
9
Maidstone Community Support Centre 35[th] Annual General Meeting Tuesday 15[th] November 2022 - 2pm AGENDA
Welcome
Apologies
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Minutes of the last AGM (23[rd] November 2021)
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Minutes to be agreed and signed
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Hon. Chair’s report
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Report and Accounts for year 2021/2022
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Accepting the Accounts
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Appointment of reporting accountants
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Chief Executive’s report
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A.O.B
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Staff and Trustee information
Contact and social media information
Trustees
Staff
MCSC 39-48 Marsham Street Maidstone Kent ME14 1HH 01622 690369
Peter Cox - Chair
Tad Taberer - CEO
Ray Harris - Vice Chair
Jackie Avery - Centre Lettings & Finance Manager
Barry Snashall - Finance Director
Matt Wright - Senior Centre Support Manager
Fiona Marriner
www.mcsc.org.uk admin@mcsc.org.uk
Dorothy Phillips Sandie Turner
Andrew Usher - Site Manager
Sinéad Fitzgerald - Morning Administrator/Reception
Twitter @MCSCMaidstone Facebook MCSC Maidstone LinkedIn Maidstone Community Support Centre
Jo Mitchell – Afternoon Administrator/Reception
Rachel Hall - Evening and Weekend Centre Support Worker
Jo Miles – Evening and Weekend Centre Support Worker
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Affordable Office Space
Sessional Room Hire
from £2000 to £5000 per annum
from £8 to £80 per hour
(Subject to availability)
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Registered number: 02045986 Charity number: 295143
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Unaudited
Trustees' Report and Financial Statements
For the Year Ended 31 March 2022
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 19 |
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Reference and Administrative Details of the Company, its Trustees and Advisers For the Year Ended 31 March 2022
| Trustees | Peter Cox, Chair |
|---|---|
| Raymond Harris, Vice Chair | |
| Tamandra Christmas (resigned 15 February 2022) | |
| Dorothy Phillips | |
| Barry Snashall, Finance Director | |
| Sandra Turner | |
| Fiona Marriner | |
| Company registered number 02045986 Charity registered number 295143 Registered office 39 - 48 Marsham Street Maidstone ME14 1HH Company secretary Rowland Taberer Chief executive officer Rowland Taberer Accountants UHY Hacker Young Chartered Accountants Thames House Roman Square Sittingbourne Kent ME10 4BJ |
Page 1
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report For the Year Ended 31 March 2022
The trustees present their annual report together with the financial statements of the company for the period 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
Maidstone Community Support Centre was established to promote any charitable purpose for the benefit of the community in South East England and, in particular, the advancement of education, the protection of health and the relief of poverty, distress and sickness. The principal method of delivery of our charitable aims has been through the provision of affordable office and meeting space to charities and like minded organisations. These facilities and the infrastructure supporting them are provided on a mutually acceptable but cost effective basis. We further promote our charitable aims through the provision of a range of activities that support the community who are disadvantaged by social or health issues.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Main activities undertaken to further the company's purposes for the public benefit
The charity's income is derived in the main from licence fees from the provision of rented office accommodation and the sessional hire of its meeting and training room facilities to the charities and other like-minded organisations. We have not increased the licence fees or sessional charges since April 2020.
By providing enhanced facilities to users of the Centre, we seek to further support our key stakeholders during difficult economic times.
The centre currently employs 7 staff at the time of signing this report.
Maidstone Community Support Centre continues to look at developing and growing its role as an important asset to the local community.
Achievements and performance
a. Review of activities
The period under review saw a steady return to normal working following the continuing lifting of Covid 19 restrictions. However many of our licensees had found advantages in ‘working from home’ and chose to continue to work in that way. This in turn had an impact on our sessional hire and turn-over in the Café at Marsham Street.
Another outcome of the ‘working from home’ trend has been an increase in the number of vacant offices after some licensees chose to terminate their licence agreements with MCSC. However, we have seen a strong return and many of the vacant offices have now been let under our usual licence terms. This has given us the opportunity to welcome many new licensees to the MCSC family. Many of our new licensees are small charities or CIC’s and we continue to move away from being overly reliant on large organisations that in the past have had a disproportionate influence on our operations through rental of multiple office spaces.
We continued to benefit from both local and national government support which in part compensated for the downturn in both sessional and office rental income. Given the business environment we have been able to report a strong financial performance during the review period.
During the review period the MCSC Staff Team continued to provide a full service to licence holders and the centre remained open throughout. The high level of Covid-19 health and safety precautions were maintained and at no time was the centre compromised. We took advantage of the lower level of activity by carrying out repairs and improvements while the building was relatively quiet. This period also gave the Staff Team and Trustees the opportunity to consider a major repair and rolling improvement programme for the next
Page 2
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2022
Achievements and performance (continued)
12 months. This programme includes work to the external features of the building together with a major upgrade of our IT facilities.
Trustees take the opportunity to thank the MCSC Staff Team for their continued support during a difficult trading period and also thank licensees and other users of the Centre for their support and understanding while we endeavour to provide a full service under challenging conditions.
b. Investment policy and performance
In the past most of the Centre’s funds were required to be spent in the short term and funds were not available for long term investment. Recent years have seen a sensible increase in rental charges both for office space and sessional room hire. A determination to keep offices at 100% occupancy and increased marketing of dramatically improved facilities has seen a surplus year on year in recent times. The bulk of this surplus is earmarked for future works under the aforementioned maintenance and improvement plan and is invested in an interest bearing account. Given the current economic climate, options for secure investment opportunities are limited but the Board keeps this policy under constant review. In 2021-22 the balance in Kent Savers was £15,270. This deposit is loaned or reinvested for community benefit.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Please see accounting policy 2.3 for further details of why the trustees have reached this conclusion.
b. Reserves policy
The trustees have reviewed the current financial position and any changes are detailed below. Additionally they have agreed to maintain the current reserves policy.
The charity endeavours to ensure sustainable reserves for future years. At 31 March 2022 the charity held completely free general reserves of £412,174 (2021 - £353,655) . Total unrestricted funds also included designated funds related to the charity's operational fixed assets, as detailed in note 15.
Detailed budgeting and financial reviews take place at regular intervals during the year. The organisation's trustees maintain a prudent approach to the current reserves.
c. Principal risks and uncertainties
This year’s financial performance has continued in the previously established pattern with the continuing Government squeeze on public sector expenditure having some impact on our users. Against this background sufficient funds have been generated to maintain the building at the required level and to add some additional facilities needed to keep our offering at a competitive level.
Away from any lingering COVID-19 related issues, the principal risk to the charity is that of user groups leaving the building and the resulting risk that, should it not be possible to replace any leavers in the short term, this would result in a decline in income.
d. Financial risk management objectives and policies
The trustees' principal financial management policies are in respect of managing reserves and managing risk. These are described in (b) and (c) above.
Page 3
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2022
e. Review of results for 2021-22
The overall financial result for 2021/22 shows a net increase in funds of £46,583. Whilst the trustees were pleased with the surplus and the increase in free reserves that followed, in spite of the difficult circumstances in the year, they noted that the result was heavily influenced by the COVID-19 support the charitable company has been able to access. Charitable income from licence fees and session income was up by £17,738, but still down from 2020 results. However, it was fortunately replaced by government pandemic grant assistance. Incoming resources for the year included £50,668 of such government grants, such as for business rates and 'restart' funding, plus £22,105 claimed under the Coronavirus Job Retention Scheme for employees who were furloughed during the year.
The main source of income was licence fees. However, additional support was sought during the year such as the COVID-19 job retention scheme and COVID-19 grants via the local council.
Staff costs, followed by premises costs, were the greatest expense.
The result for the year split between funds is shown on the face of the Statement of Financial Activities, with the great majority of all income and expenditure during the year passing through general unrestricted funds.
Structure, governance and management
a. Constitution
Maidstone Community Support Centre is registered as a charitable company limited by guarantee (company registration no. 02045986) and was set up by a Memorandum of Association. It was incorporated on 12 August 1986. The Members of the company are the Trustees and such other persons or bodies corporate as are eligible for membership. Persons wishing to become members are required to make a formal application for consideration. Membership is not transferable. The company is constituted under a Memorandum of Association and is a registered charity, no. 295143.
b. Methods of appointment or election of trustees
Trustees, who also act as directors for the purposes of company law, are appointed at the company’s Annual General Meeting. Under the requirements of the Memorandum and Articles of Association directors are elected to serve for a period of up to three years after which they must apply for re-election at the Annual General Meeting.
c. Risk management
The trustees have established an annual procedure to review risks and set or confirm strategies and policies. Day to day management of risk policies and their effectiveness is carried out by the Chief Executive.
Members' liability
In the event of the company being wound up, members are each required to contribute an amount not exceeding £1. The Members of the company guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.
Management
The Centre is managed by a Board of Trustees appointed at the Annual General Meeting. The Centre employs a Chief Executive who reports, and is responsible to the Honorary Chairman.
Page 4
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2022
Statement of trustees' responsibilities
The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by:
Peter Cox, Honorary Chairman
Date:
Page 5
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Independent Examiner's Report For the Year Ended 31 March 2022
Independent Examiner's Report to the Trustees of Maidstone Community Support Centre ('the company')
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022.
Responsibilities and Basis of Report
As the trustees of the company (and 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 the company's accounts 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 the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.
Signed: Dated:
Allan R. Hickie BSc FCA
UHY Hacker Young Chartered Accountants Thames House Roman Square Sittingbourne Kent. ME10 4BJ
Page 6
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 73,772 252,847 41 326,660 277,859 277,859 48,801 409,889 48,801 458,690 |
Restricted funds 2022 £ - - - - 2,218 2,218 (2,218) 175,885 (2,218) 173,667 |
Total funds 2022 £ 73,772 252,847 41 326,660 280,077 280,077 46,583 585,774 46,583 632,357 |
Total funds 2021 £ 119,509 235,109 77 |
|---|---|---|---|---|
| 354,695 | ||||
| 240,929 | ||||
| 240,929 | ||||
| 113,766 | ||||
| 472,008 113,766 |
||||
| 585,774 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 19 form part of these financial statements.
Page 7
Maidstone Community Support Centre
(A Company Limited by Guarantee) Registered number: 02045986
Balance Sheet As at 31 March 2022
| Note 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 14 Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
9,358 424,547 433,905 (23,595) |
2022 £ 238,369 410,310 648,679 (16,322) 632,357 173,667 458,690 632,357 |
3,614 403,559 407,173 (33,796) |
2021 £ 231,945 373,377 |
|---|---|---|---|---|
| 605,322 (19,548) |
||||
| 585,774 | ||||
| 175,885 409,889 |
||||
| 585,774 |
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
Peter Cox, Honorary Chair
Barry Snashall, Finance Director
Date:
The notes on pages 9 to 19 form part of these financial statements.
Page 8
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Notes to the Financial Statements For the Year Ended 31 March 2022
1. General information
The charitable company is a company limited by guarantee, registered in England and Wales. The registered office is 39 - 48 Marsham Street, Maidstone, ME14 1HH.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 March 2018), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Maidstone Community Support Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The legal members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2.3 Going concern
The Trustees have considered whether they believe the charitable company will have adequate resources to continue in operational existence for the foreseeable future, and whether there are any material uncertainties about the charity company's ability to continue as a going concern for a period of at least one year from the date of authorisation of the financial statements.
In undertaking their assessment, the Trustees have taken into account the current situation within the post Covid-19 pandemic and other global factors which may affect the charitable sector.
MCSC has been successful in weathering the pandemic crisis and has a sound financial grounding, which ensures it can sustain its charitable business well into the future. Further successful local government support funding has enabled the charitable company to maintain its charitable activities and future projects.
At the time of approval of these financial statements the charitable company has healthy cash at bank and free reserve balances, and with year-to-date management accounting information and forecasts for the coming twelve months indicating that there are no material uncertainties over going concern, the Trustees have concluded that it remains appropriate to prepare the financial statements on the going concern basis.
2.4 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 9
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
2. Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. The costs of the one activity for the entity is made up of direct costs as well as support costs involved in undertaking said activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Government grants
Covid-19 job retention scheme grant income is credited to the Statement of Financial Activities as the related expenditure is incurred. Additional COVID-19 government grants are credited to the Statement of Financial Activities upon receipt of monies.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
- Freehold property 2% per annum straight line on cost - Freehold property improvements 10% per annum straight line on cost - Fixtures, fittings and equipment 20% per annum straight line on cost
2.8 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
Page 10
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Notes to the Financial Statements For the Year Ended 31 March 2022
2. Accounting policies (continued)
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Government grants COVID-19 Job retention scheme COVID-19 Maidstone Borough Council Grants Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 22,105 50,668 72,773 999 73,772 119,509 |
Total funds 2022 £ 22,105 50,668 72,773 999 73,772 119,509 |
Total funds 2021 £ 48,544 70,965 |
|---|---|---|---|
| 119,509 | |||
| - | |||
| 119,509 | |||
4. Income from charitable activities
| Licence fees and session income Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 252,847 235,109 |
Total funds 2022 £ 252,847 235,109 |
Total funds 2021 £ 235,109 |
|---|---|---|---|
Page 11
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
5. Investment income
| Investment income Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 41 77 |
Total funds 2022 £ 41 77 |
Total funds 2021 £ 77 |
|---|---|---|---|
6. Analysis of expenditure on charitable activities
Summary by fund type
| Direct charitable purposes Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 277,859 238,711 |
Restricted funds 2022 £ 2,218 2,218 |
Total funds 2022 £ 280,077 240,929 |
Total funds 2021 £ 240,929 |
|---|---|---|---|---|
7. Analysis of expenditure by activities
| Direct charitable purposes Analysis of 2021 total |
Direct costs 2022 £ 220,429 191,451 |
Support costs 2022 £ 59,648 49,478 |
Total funds 2022 £ 280,077 240,929 |
Total funds 2021 £ 240,929 |
|---|---|---|---|---|
Page 12
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
7. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Water, sewerage and waste Light and heat Repairs and maintenance Property management and cleaning Coffee shop |
Total funds 2022 £ 152,426 6,404 10,473 31,777 19,169 180 220,429 |
Total funds 2021 £ 150,909 3,371 15,742 13,153 7,999 277 |
|---|---|---|
| 191,451 |
Analysis of support costs
| Depreciation Donations Insurance Accountancy and payroll charges Telephone Office expenses and training Photocopier costs Bank charges and interest General expenses Bad debts |
Total funds 2022 £ 11,936 6,432 5,314 4,230 12,063 2,953 1,183 630 12,799 2,108 59,648 |
Total funds 2021 £ 14,955 - 5,666 4,754 7,764 1,186 1,183 589 8,979 4,402 |
|---|---|---|
| 49,478 |
Page 13
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £3,540 (2021: £3,400), and other services of £1,092 (2021: £1,354).
9. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2022 £ 139,215 7,292 5,919 152,426 |
2021 £ 137,928 7,089 5,892 |
|---|---|---|
| 150,909 |
The average number of persons employed by the company during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Employees | 7 | 8 |
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel received remuneration (including employer national insurance and pension contributions) of £50,885 (2021 - £50,893) .
10. Trustees' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 March 2022, no trustee expenses have been incurred (2021 - £NIL) .
Page 14
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
11. Tangible fixed assets
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 Debtors Trade debtors Prepayments and accrued income |
Freehold property £ 221,765 - 221,765 47,681 2,218 49,899 171,866 174,084 |
Freehold property improvements £ 526,794 - 526,794 470,713 9,324 480,037 46,757 56,081 |
Fixtures and fittings £ 128,772 18,360 147,132 126,992 394 127,386 19,746 1,780 2022 £ 8,073 1,285 9,358 |
Total £ 877,331 18,360 |
|
|---|---|---|---|---|---|
| 895,691 | |||||
| 645,386 11,936 |
|||||
| 657,322 | |||||
| 238,369 | |||||
| 231,945 | |||||
| 2021 £ 3,402 212 3,614 |
12. Debtors
Page 15
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
13. Creditors: Amounts falling due within one year
| Other loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2022 £ 3,226 2,435 - 2,493 15,441 23,595 |
2021 £ 3,226 973 2,699 4,041 22,857 |
|---|---|---|
| 33,796 |
14. Creditors: Amounts falling due after more than one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other loans | 16,322 | 19,548 |
Page 16
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
| 15. Statement of funds Statement of funds - current year Unrestricted funds Designated funds Fixed asset fund General funds General funds Total Unrestricted funds Restricted funds Capital fund Big lottery grant Total of funds Summary of funds |
Balance at 1 April 2021 £ 56,234 353,655 409,889 174,084 1,801 175,885 585,774 |
Income £ - 326,660 326,660 - - - 326,660 |
Expenditure £ (9,718) (268,141) (277,859) (2,218) - (2,218) (280,077) |
Balance at 31 March 2022 £ 46,516 |
|---|---|---|---|---|
| 412,174 | ||||
| 458,690 | ||||
| 171,866 1,801 |
||||
| 173,667 | ||||
| 632,357 | ||||
Unrestricted funds
The designated fixed asset fund represents the net book value of tangible fixed assets funded from unrestricted general funds. The difference between the carried forward balance on this fund and the value of tangible fixed assets in note 11 relates to the balance on the restricted capital fund for fixed assets acquired out of restricted funding.
General funds represent the 'free' reserves readily available to trustees to spend as they see fit in accordance with the charity's objectives.
Restricted funds
The capital fund is in respect of capital grants received for the purchase and improvement of freehold buildings and purchase of items and equipment. In accordance with the accounting policy, depreciation on the assets concerned is charged as an expense of the restricted fund.
The Big Lottery grant was received for the provision of services relating to mental health and a proportion remained unspent at the year end.
Page 17
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
| 15. Statement of funds (continued) Statement of funds - prior year Unrestricted funds Designated funds Fixed asset fund General funds General funds Total Unrestricted funds Restricted funds Capital fund Big lottery grant Total of funds 16. Analysis of net assets between funds Analysis of net assets between funds - current year Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Balance at 1 April 2020 £ 68,971 224,934 293,905 176,302 1,801 178,103 472,008 |
Income £ - 354,695 354,695 - - - 354,695 Unrestricted funds 2022 £ 66,503 432,104 (23,595) (16,322) 458,690 |
Expenditure £ (12,737) (225,974) (238,711) (2,218) - (2,218) (240,929) Restricted funds 2022 £ 171,866 1,801 - - 173,667 |
Balance at 31 March 2021 £ 56,234 |
|---|---|---|---|---|
| 353,655 | ||||
| 409,889 174,084 1,801 |
||||
| 175,885 585,774 |
||||
| Total funds 2022 £ 238,369 433,905 (23,595) (16,322) 632,357 |
Page 18
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Notes to the Financial Statements For the Year Ended 31 March 2022
16. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2021 £ 57,861 405,372 (33,796) (19,548) 409,889 |
Restricted funds 2021 £ 174,084 1,801 - - 175,885 |
Total funds 2021 £ 231,945 407,173 (33,796) (19,548) |
|---|---|---|---|
| 585,774 |
17. Pension commitments
The company operates a defined contribution scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. There were no amounts payable to the fund at the balance sheet date (2021 - £Nil) .
18. Operating lease commitments
At 31 March 2022 the company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2022 £ 8,383 10,882 19,265 |
2021 £ 99 - |
|---|---|---|
| 99 |
19. Related party transactions
The company engaged in transactions with related parties, as noted below. Each of these transactions were at open market value or on terms equivalent to those that prevail in arm's length transactions.
The company charged rent of £3,979 (2021 - £3,788) to Fernleigh Consulting, a firm where Peter Cox, a trustee of Maidstone Community Support Centre is a consultant. At 31 March 2022 Fernleigh Consulting was owed £1,518 (2021 - £1,765) by the company, as a result of payments in advance.
The company charged rent of £16,352 (2021 - £13,081) to Rubicon Cares, a charity that Sandra Turner, a trustee of Maidstone Community Support Centre is a trustee of. At 31 March 2022 Rubicon Cares owed £21 (2021 - £Nil) to the company.
The company made purchases of £600 (2021 - £570) from Analsyer Accounting Limited, a firm that Barry Snashall, a trustee and the Finance Director of Maidstone Community Support Centre, is a director of.
Page 19
Registered number: 02045986 Charity number: 295143
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Unaudited
Trustees' Report and Financial Statements
For the Year Ended 31 March 2022
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 19 |
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Reference and Administrative Details of the Company, its Trustees and Advisers For the Year Ended 31 March 2022
| Trustees | Peter Cox, Chair |
|---|---|
| Raymond Harris, Vice Chair | |
| Tamandra Christmas (resigned 15 February 2022) | |
| Dorothy Phillips | |
| Barry Snashall, Finance Director | |
| Sandra Turner | |
| Fiona Marriner | |
| Company registered number 02045986 Charity registered number 295143 Registered office 39 - 48 Marsham Street Maidstone ME14 1HH Company secretary Rowland Taberer Chief executive officer Rowland Taberer Accountants UHY Hacker Young Chartered Accountants Thames House Roman Square Sittingbourne Kent ME10 4BJ |
Page 1
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report For the Year Ended 31 March 2022
The trustees present their annual report together with the financial statements of the company for the period 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
Maidstone Community Support Centre was established to promote any charitable purpose for the benefit of the community in South East England and, in particular, the advancement of education, the protection of health and the relief of poverty, distress and sickness. The principal method of delivery of our charitable aims has been through the provision of affordable office and meeting space to charities and like minded organisations. These facilities and the infrastructure supporting them are provided on a mutually acceptable but cost effective basis. We further promote our charitable aims through the provision of a range of activities that support the community who are disadvantaged by social or health issues.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Main activities undertaken to further the company's purposes for the public benefit
The charity's income is derived in the main from licence fees from the provision of rented office accommodation and the sessional hire of its meeting and training room facilities to the charities and other like-minded organisations. We have not increased the licence fees or sessional charges since April 2020.
By providing enhanced facilities to users of the Centre, we seek to further support our key stakeholders during difficult economic times.
The centre currently employs 7 staff at the time of signing this report.
Maidstone Community Support Centre continues to look at developing and growing its role as an important asset to the local community.
Achievements and performance
a. Review of activities
The period under review saw a steady return to normal working following the continuing lifting of Covid 19 restrictions. However many of our licensees had found advantages in ‘working from home’ and chose to continue to work in that way. This in turn had an impact on our sessional hire and turn-over in the Café at Marsham Street.
Another outcome of the ‘working from home’ trend has been an increase in the number of vacant offices after some licensees chose to terminate their licence agreements with MCSC. However, we have seen a strong return and many of the vacant offices have now been let under our usual licence terms. This has given us the opportunity to welcome many new licensees to the MCSC family. Many of our new licensees are small charities or CIC’s and we continue to move away from being overly reliant on large organisations that in the past have had a disproportionate influence on our operations through rental of multiple office spaces.
We continued to benefit from both local and national government support which in part compensated for the downturn in both sessional and office rental income. Given the business environment we have been able to report a strong financial performance during the review period.
During the review period the MCSC Staff Team continued to provide a full service to licence holders and the centre remained open throughout. The high level of Covid-19 health and safety precautions were maintained and at no time was the centre compromised. We took advantage of the lower level of activity by carrying out repairs and improvements while the building was relatively quiet. This period also gave the Staff Team and Trustees the opportunity to consider a major repair and rolling improvement programme for the next
Page 2
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2022
Achievements and performance (continued)
12 months. This programme includes work to the external features of the building together with a major upgrade of our IT facilities.
Trustees take the opportunity to thank the MCSC Staff Team for their continued support during a difficult trading period and also thank licensees and other users of the Centre for their support and understanding while we endeavour to provide a full service under challenging conditions.
b. Investment policy and performance
In the past most of the Centre’s funds were required to be spent in the short term and funds were not available for long term investment. Recent years have seen a sensible increase in rental charges both for office space and sessional room hire. A determination to keep offices at 100% occupancy and increased marketing of dramatically improved facilities has seen a surplus year on year in recent times. The bulk of this surplus is earmarked for future works under the aforementioned maintenance and improvement plan and is invested in an interest bearing account. Given the current economic climate, options for secure investment opportunities are limited but the Board keeps this policy under constant review. In 2021-22 the balance in Kent Savers was £15,270. This deposit is loaned or reinvested for community benefit.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Please see accounting policy 2.3 for further details of why the trustees have reached this conclusion.
b. Reserves policy
The trustees have reviewed the current financial position and any changes are detailed below. Additionally they have agreed to maintain the current reserves policy.
The charity endeavours to ensure sustainable reserves for future years. At 31 March 2022 the charity held completely free general reserves of £412,174 (2021 - £353,655) . Total unrestricted funds also included designated funds related to the charity's operational fixed assets, as detailed in note 15.
Detailed budgeting and financial reviews take place at regular intervals during the year. The organisation's trustees maintain a prudent approach to the current reserves.
c. Principal risks and uncertainties
This year’s financial performance has continued in the previously established pattern with the continuing Government squeeze on public sector expenditure having some impact on our users. Against this background sufficient funds have been generated to maintain the building at the required level and to add some additional facilities needed to keep our offering at a competitive level.
Away from any lingering COVID-19 related issues, the principal risk to the charity is that of user groups leaving the building and the resulting risk that, should it not be possible to replace any leavers in the short term, this would result in a decline in income.
d. Financial risk management objectives and policies
The trustees' principal financial management policies are in respect of managing reserves and managing risk. These are described in (b) and (c) above.
Page 3
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2022
e. Review of results for 2021-22
The overall financial result for 2021/22 shows a net increase in funds of £46,583. Whilst the trustees were pleased with the surplus and the increase in free reserves that followed, in spite of the difficult circumstances in the year, they noted that the result was heavily influenced by the COVID-19 support the charitable company has been able to access. Charitable income from licence fees and session income was up by £17,738, but still down from 2020 results. However, it was fortunately replaced by government pandemic grant assistance. Incoming resources for the year included £50,668 of such government grants, such as for business rates and 'restart' funding, plus £22,105 claimed under the Coronavirus Job Retention Scheme for employees who were furloughed during the year.
The main source of income was licence fees. However, additional support was sought during the year such as the COVID-19 job retention scheme and COVID-19 grants via the local council.
Staff costs, followed by premises costs, were the greatest expense.
The result for the year split between funds is shown on the face of the Statement of Financial Activities, with the great majority of all income and expenditure during the year passing through general unrestricted funds.
Structure, governance and management
a. Constitution
Maidstone Community Support Centre is registered as a charitable company limited by guarantee (company registration no. 02045986) and was set up by a Memorandum of Association. It was incorporated on 12 August 1986. The Members of the company are the Trustees and such other persons or bodies corporate as are eligible for membership. Persons wishing to become members are required to make a formal application for consideration. Membership is not transferable. The company is constituted under a Memorandum of Association and is a registered charity, no. 295143.
b. Methods of appointment or election of trustees
Trustees, who also act as directors for the purposes of company law, are appointed at the company’s Annual General Meeting. Under the requirements of the Memorandum and Articles of Association directors are elected to serve for a period of up to three years after which they must apply for re-election at the Annual General Meeting.
c. Risk management
The trustees have established an annual procedure to review risks and set or confirm strategies and policies. Day to day management of risk policies and their effectiveness is carried out by the Chief Executive.
Members' liability
In the event of the company being wound up, members are each required to contribute an amount not exceeding £1. The Members of the company guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.
Management
The Centre is managed by a Board of Trustees appointed at the Annual General Meeting. The Centre employs a Chief Executive who reports, and is responsible to the Honorary Chairman.
Page 4
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2022
Statement of trustees' responsibilities
The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by:
Peter Cox, Honorary Chairman
Date:
Page 5
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Independent Examiner's Report For the Year Ended 31 March 2022
Independent Examiner's Report to the Trustees of Maidstone Community Support Centre ('the company')
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022.
Responsibilities and Basis of Report
As the trustees of the company (and 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 the company's accounts 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 the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.
Signed: Dated:
Allan R. Hickie BSc FCA
UHY Hacker Young Chartered Accountants Thames House Roman Square Sittingbourne Kent. ME10 4BJ
Page 6
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 73,772 252,847 41 326,660 277,859 277,859 48,801 409,889 48,801 458,690 |
Restricted funds 2022 £ - - - - 2,218 2,218 (2,218) 175,885 (2,218) 173,667 |
Total funds 2022 £ 73,772 252,847 41 326,660 280,077 280,077 46,583 585,774 46,583 632,357 |
Total funds 2021 £ 119,509 235,109 77 |
|---|---|---|---|---|
| 354,695 | ||||
| 240,929 | ||||
| 240,929 | ||||
| 113,766 | ||||
| 472,008 113,766 |
||||
| 585,774 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 19 form part of these financial statements.
Page 7
Maidstone Community Support Centre
(A Company Limited by Guarantee) Registered number: 02045986
Balance Sheet As at 31 March 2022
| Note 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 14 Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
9,358 424,547 433,905 (23,595) |
2022 £ 238,369 410,310 648,679 (16,322) 632,357 173,667 458,690 632,357 |
3,614 403,559 407,173 (33,796) |
2021 £ 231,945 373,377 |
|---|---|---|---|---|
| 605,322 (19,548) |
||||
| 585,774 | ||||
| 175,885 409,889 |
||||
| 585,774 |
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
Peter Cox, Honorary Chair
Barry Snashall, Finance Director
Date:
The notes on pages 9 to 19 form part of these financial statements.
Page 8
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Notes to the Financial Statements For the Year Ended 31 March 2022
1. General information
The charitable company is a company limited by guarantee, registered in England and Wales. The registered office is 39 - 48 Marsham Street, Maidstone, ME14 1HH.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 March 2018), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Maidstone Community Support Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The legal members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2.3 Going concern
The Trustees have considered whether they believe the charitable company will have adequate resources to continue in operational existence for the foreseeable future, and whether there are any material uncertainties about the charity company's ability to continue as a going concern for a period of at least one year from the date of authorisation of the financial statements.
In undertaking their assessment, the Trustees have taken into account the current situation within the post Covid-19 pandemic and other global factors which may affect the charitable sector.
MCSC has been successful in weathering the pandemic crisis and has a sound financial grounding, which ensures it can sustain its charitable business well into the future. Further successful local government support funding has enabled the charitable company to maintain its charitable activities and future projects.
At the time of approval of these financial statements the charitable company has healthy cash at bank and free reserve balances, and with year-to-date management accounting information and forecasts for the coming twelve months indicating that there are no material uncertainties over going concern, the Trustees have concluded that it remains appropriate to prepare the financial statements on the going concern basis.
2.4 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 9
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
2. Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. The costs of the one activity for the entity is made up of direct costs as well as support costs involved in undertaking said activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Government grants
Covid-19 job retention scheme grant income is credited to the Statement of Financial Activities as the related expenditure is incurred. Additional COVID-19 government grants are credited to the Statement of Financial Activities upon receipt of monies.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
- Freehold property 2% per annum straight line on cost - Freehold property improvements 10% per annum straight line on cost - Fixtures, fittings and equipment 20% per annum straight line on cost
2.8 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
Page 10
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Notes to the Financial Statements For the Year Ended 31 March 2022
2. Accounting policies (continued)
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Government grants COVID-19 Job retention scheme COVID-19 Maidstone Borough Council Grants Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 22,105 50,668 72,773 999 73,772 119,509 |
Total funds 2022 £ 22,105 50,668 72,773 999 73,772 119,509 |
Total funds 2021 £ 48,544 70,965 |
|---|---|---|---|
| 119,509 | |||
| - | |||
| 119,509 | |||
4. Income from charitable activities
| Licence fees and session income Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 252,847 235,109 |
Total funds 2022 £ 252,847 235,109 |
Total funds 2021 £ 235,109 |
|---|---|---|---|
Page 11
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
5. Investment income
| Investment income Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 41 77 |
Total funds 2022 £ 41 77 |
Total funds 2021 £ 77 |
|---|---|---|---|
6. Analysis of expenditure on charitable activities
Summary by fund type
| Direct charitable purposes Analysis of 2021 total by fund |
Unrestricted funds 2022 £ 277,859 238,711 |
Restricted funds 2022 £ 2,218 2,218 |
Total funds 2022 £ 280,077 240,929 |
Total funds 2021 £ 240,929 |
|---|---|---|---|---|
7. Analysis of expenditure by activities
| Direct charitable purposes Analysis of 2021 total |
Direct costs 2022 £ 220,429 191,451 |
Support costs 2022 £ 59,648 49,478 |
Total funds 2022 £ 280,077 240,929 |
Total funds 2021 £ 240,929 |
|---|---|---|---|---|
Page 12
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
7. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Water, sewerage and waste Light and heat Repairs and maintenance Property management and cleaning Coffee shop |
Total funds 2022 £ 152,426 6,404 10,473 31,777 19,169 180 220,429 |
Total funds 2021 £ 150,909 3,371 15,742 13,153 7,999 277 |
|---|---|---|
| 191,451 |
Analysis of support costs
| Depreciation Donations Insurance Accountancy and payroll charges Telephone Office expenses and training Photocopier costs Bank charges and interest General expenses Bad debts |
Total funds 2022 £ 11,936 6,432 5,314 4,230 12,063 2,953 1,183 630 12,799 2,108 59,648 |
Total funds 2021 £ 14,955 - 5,666 4,754 7,764 1,186 1,183 589 8,979 4,402 |
|---|---|---|
| 49,478 |
Page 13
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £3,540 (2021: £3,400), and other services of £1,092 (2021: £1,354).
9. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2022 £ 139,215 7,292 5,919 152,426 |
2021 £ 137,928 7,089 5,892 |
|---|---|---|
| 150,909 |
The average number of persons employed by the company during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Employees | 7 | 8 |
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel received remuneration (including employer national insurance and pension contributions) of £50,885 (2021 - £50,893) .
10. Trustees' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 March 2022, no trustee expenses have been incurred (2021 - £NIL) .
Page 14
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
11. Tangible fixed assets
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 Debtors Trade debtors Prepayments and accrued income |
Freehold property £ 221,765 - 221,765 47,681 2,218 49,899 171,866 174,084 |
Freehold property improvements £ 526,794 - 526,794 470,713 9,324 480,037 46,757 56,081 |
Fixtures and fittings £ 128,772 18,360 147,132 126,992 394 127,386 19,746 1,780 2022 £ 8,073 1,285 9,358 |
Total £ 877,331 18,360 |
|
|---|---|---|---|---|---|
| 895,691 | |||||
| 645,386 11,936 |
|||||
| 657,322 | |||||
| 238,369 | |||||
| 231,945 | |||||
| 2021 £ 3,402 212 3,614 |
12. Debtors
Page 15
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
13. Creditors: Amounts falling due within one year
| Other loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2022 £ 3,226 2,435 - 2,493 15,441 23,595 |
2021 £ 3,226 973 2,699 4,041 22,857 |
|---|---|---|
| 33,796 |
14. Creditors: Amounts falling due after more than one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other loans | 16,322 | 19,548 |
Page 16
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
| 15. Statement of funds Statement of funds - current year Unrestricted funds Designated funds Fixed asset fund General funds General funds Total Unrestricted funds Restricted funds Capital fund Big lottery grant Total of funds Summary of funds |
Balance at 1 April 2021 £ 56,234 353,655 409,889 174,084 1,801 175,885 585,774 |
Income £ - 326,660 326,660 - - - 326,660 |
Expenditure £ (9,718) (268,141) (277,859) (2,218) - (2,218) (280,077) |
Balance at 31 March 2022 £ 46,516 |
|---|---|---|---|---|
| 412,174 | ||||
| 458,690 | ||||
| 171,866 1,801 |
||||
| 173,667 | ||||
| 632,357 | ||||
Unrestricted funds
The designated fixed asset fund represents the net book value of tangible fixed assets funded from unrestricted general funds. The difference between the carried forward balance on this fund and the value of tangible fixed assets in note 11 relates to the balance on the restricted capital fund for fixed assets acquired out of restricted funding.
General funds represent the 'free' reserves readily available to trustees to spend as they see fit in accordance with the charity's objectives.
Restricted funds
The capital fund is in respect of capital grants received for the purchase and improvement of freehold buildings and purchase of items and equipment. In accordance with the accounting policy, depreciation on the assets concerned is charged as an expense of the restricted fund.
The Big Lottery grant was received for the provision of services relating to mental health and a proportion remained unspent at the year end.
Page 17
Maidstone Community Support Centre
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2022
| 15. Statement of funds (continued) Statement of funds - prior year Unrestricted funds Designated funds Fixed asset fund General funds General funds Total Unrestricted funds Restricted funds Capital fund Big lottery grant Total of funds 16. Analysis of net assets between funds Analysis of net assets between funds - current year Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Balance at 1 April 2020 £ 68,971 224,934 293,905 176,302 1,801 178,103 472,008 |
Income £ - 354,695 354,695 - - - 354,695 Unrestricted funds 2022 £ 66,503 432,104 (23,595) (16,322) 458,690 |
Expenditure £ (12,737) (225,974) (238,711) (2,218) - (2,218) (240,929) Restricted funds 2022 £ 171,866 1,801 - - 173,667 |
Balance at 31 March 2021 £ 56,234 |
|---|---|---|---|---|
| 353,655 | ||||
| 409,889 174,084 1,801 |
||||
| 175,885 585,774 |
||||
| Total funds 2022 £ 238,369 433,905 (23,595) (16,322) 632,357 |
Page 18
(A Company Limited by Guarantee)
Maidstone Community Support Centre
Notes to the Financial Statements For the Year Ended 31 March 2022
16. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2021 £ 57,861 405,372 (33,796) (19,548) 409,889 |
Restricted funds 2021 £ 174,084 1,801 - - 175,885 |
Total funds 2021 £ 231,945 407,173 (33,796) (19,548) |
|---|---|---|---|
| 585,774 |
17. Pension commitments
The company operates a defined contribution scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. There were no amounts payable to the fund at the balance sheet date (2021 - £Nil) .
18. Operating lease commitments
At 31 March 2022 the company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2022 £ 8,383 10,882 19,265 |
2021 £ 99 - |
|---|---|---|
| 99 |
19. Related party transactions
The company engaged in transactions with related parties, as noted below. Each of these transactions were at open market value or on terms equivalent to those that prevail in arm's length transactions.
The company charged rent of £3,979 (2021 - £3,788) to Fernleigh Consulting, a firm where Peter Cox, a trustee of Maidstone Community Support Centre is a consultant. At 31 March 2022 Fernleigh Consulting was owed £1,518 (2021 - £1,765) by the company, as a result of payments in advance.
The company charged rent of £16,352 (2021 - £13,081) to Rubicon Cares, a charity that Sandra Turner, a trustee of Maidstone Community Support Centre is a trustee of. At 31 March 2022 Rubicon Cares owed £21 (2021 - £Nil) to the company.
The company made purchases of £600 (2021 - £570) from Analsyer Accounting Limited, a firm that Barry Snashall, a trustee and the Finance Director of Maidstone Community Support Centre, is a director of.
Page 19