## **THE LINCOLNSFIELDS CENTRE LIMITED** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **Company Registration No: 2105182** **Charity Registration No: 298392 (England and Wales)** ## **THE LINCOLNSFIELDS CENTRE LIMITED** |Legal and administrative information
Trustees’ report
Independent examiner’s report
Statement of Financial Activities
Balance Sheet
Notes to the financial Statements
Details of Income and expenditure|**Contents**
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13| |---|---| -1- ## **THE LINCOLNSFIELDS CENTRE LIMITED** **Directors and Trustees** B Linnegar M Finburgh J Treves-Brown P Knight O Knight R J McKinnie (Resigned 29/01/2022) L Casey (Appointed 29/01/2022) **Registered Office** 29 Lincolnsfields Bushey Hall Drive Bushey Herts WD23 2ES **Charity Number** 298392 **Company Number** 2105182 (England and Wales) **Independent Examiner** Mr Satish Parmar FCCA SVP Associates Limited Chartered Certified Accountants 8 Brackendale Grove Harpenden Hertfordshire AL5 3EJ -2- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Trustees’ Report (Including Directors’ Report ) for the year ended 31 March 2022** The trustees present their report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply 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)” (as amended for accounting periods commencing from 1 January 2016). As a company limited by guarantee, registered at Companies House, and also as a registered charity The Lincolnsfields Centre Limited is governed by a board of directors who also act as the charity’s trustees. The board is responsible for the stewardship and governance of the centres activities and the formulation and monitoring of the centres strategic objectives. ## **Objectives and activities** The charity’s object and its principal activity continues to be that of providing affordable holidays, respite care and residential facilities for groups and organisations dealing with children and young people and the provision of educational facilities. The facilities are used for spiritual weekends and also for group bookings for respite care. The charity is organised so that the Trustees meet regularly to manage its affairs. There is one full time Children’s Services Manager and a Financial Manager, who both manage the day to day administration of the charity, and the effective use of all resources. The remaining staffs are employed in administrative roles, children’s education roles and general maintenance of the grounds and buildings. Where possible the trustees have been assisting with day to day administration, maintenance and the WW2 project. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance and planning for future** Although still being affected by the covid pandemic, losing a member of staff and long-time volunteer, we kept the prevailing conditions under review and put in place mitigating actions and procedures to reduce the risk to the charity and the users. When able we started a slow reopening to our projects, with our first groups doing children at war day trips, then residential stays, then our public monthly 1940s experience. All of which started slow but usage building up over the year, operations of all our projects were kept under review as we have new paid staff, a shortage of volunteers returning and the shortage of supplies and costs increasing. Thanks to our existing staff and volunteers who not only worked hard to restart our projects but support the new people. There is still a slight reluctance by users to come back but as we operate confidence is returning and there is an encouraging interest from our passed users to come back. 1940s experience public opening is showing better than average attendance assisted by a social media campaign to advertise it. We also completed the refurbishment of the play area and relaunched it with new staff and new name playzone as a separate company run by us for our benefit. All of user groups gradually returned to full use, new leases still being worked on.Issues for the next year that will be kept under review raising costs, new staff needed, confidence of users, new volunteers for projects and board needed -3- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Trustees’ Report (Including Directors’ Report ) for the year ended 31 March 2022** ## **Financial Review** The Statement of Financial Activities shows a net deficit for the year of (£49,874) (2021 surplus £8,250). At the year end the net current assets stood at £983,603 (2021 - £1,033,477) of which cash of £375,166 (2021 - £389,576 . The trustees consider a reserve at this level should ensure that, in the event of significant drop in income, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees report that there are currently no funds available for investment at this time as funds are being set aside for repairs and improvements to the premises. In the event of investment funds becoming available the Board will seek appropriate expert advice. ## **Directors and Trustees** All directors of the company are also trustees of the charity, and there is a membership comprised of other trustees. The trustees named on page 2 served during the year. The Board has the power to appoint additional trustees as it considers fit to do so. ## **Risk Management** The Board of Trustees actively review the financial situation on a monthly basis and regularly review the risk, which face the charity. They believe that at this present time it is essential to increase the current level of operation, develop the new initiatives described above and maintain a strict review and controls over the financial systems and reports in order that they can manage resources in the face of any unexpected adverse conditions. The trustees are also of the opinion that they have examined all operational and business risks faced by the charity and confirm that they have established systems to mitigate the financial risk to the best of their ability in the difficult financial conditions prevailing. The trustees’ report was approved by the Board of Trustees --------------------B Linnegar Trustee Dated: -4- ## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE LINCOLNSFIELDS CENTRE LIMITED** I report to the trustees on my examination of the financial statements of The Lincolnsfield Centre Limited (the charity) for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the trustees 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) 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: -accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or -the financial statements do not accord with those records; or -the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or -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. Satish Parmar FCCA SVP Associates Certified Accountants 8 Brackendale Grove, Harpenden, Herts AL5 3EJ Dated: -5- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022** ||||||2022|2021| |---|---|---|---|---|---|---| ||Notes||||£|£| ||||Restricted|Unrestricted|Total|Total| ||||funds|funds||| |**Income from:**||||||| |Fund raising ventures||2|-|257,900|257,900|116,219| |Donations|||-|366|366|587| |Interest received|||-|12|12|77| |Furlough Grant|||-|-|-|29,834| |Covid-19 Grant|||-|56,000|56,000|90,000| ||||_____|_______|_______|______| |**Total income**|||-|314,278|314,278|236,717| |**Expenditure on:**||||||| |Direct Charitable Expenditure||3|-|325,002|325,002|193,695| |Management expenditure||4|-|39,148|39,148|34,757| |Corporation tax|||-|2|2|15| ||||_____|______|______|______| |**Total resources expended**|||-|364,152|364,152|228,467| ||||_____|______|______|______| |**Net incoming/(outgoing) resources**|||-|(49,874)|(49,874)|8,250| |Funds balance at 1 April 2021|||-|1,033,477|1,033,477|1,025,227| ||||_____|_______|_______|_______| |**Funds balances at 31 March**|**2022**||**-**|983,603|983,603|1,033,477| ||||**=====**|**======**|**======**|**======**| 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. -6- ## **THE LINCOLNSFIELDS CENTRE LIMITED Balance Sheet as at 31 March 2022** ||||2022|2021|| |---|---|---|---|---|---| ||Notes|£|£|£|£| |**Fixed assets**|||||| |Tangible assets|7||587,816||643,207| |**Current assets**|||||| |Stock||980||980|| |Debtors|8|82,125||62,451|| |Cash at bank and in hand||375,166||389,576|| |||_______||______|| |||458,271||453,007|| |**Creditors:**amounts falling due|||||| |within one year|9|62,484||45,203|| |||______||______|| |**Net current assets**|||395,787||407,804| ||||________||________| |**Total assets less current liabilities**|||983,603||1,051,011| |**Creditors:**amounts falling due after|||||| |One year|10||-||17,534| ||||________||________| ||||983,603||1,033,477| ||||=======||=======| |**Funds**|||||| |Unrestricted funds|12||983,603||1,033,477| |Restricted|12||-||-| ||||________||________| ||||983,603||1,033,477| ||||=======||=======| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022. 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 Trustees on ______________ ____________ B Linnegar - Director -7- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Notes to the financial statements for the year ended 31 March 2022** ## **1. Accounting policies** ## **Charity information** The Lincolnsfield Centre Limited is a private company limited by guarantee incorporated in England and Wales. ## **Accounting Convention** The financial statements have been prepared in accordance with 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 2015) – (Charities SORP FRS 102) and The Companies Act 2006. ## **Going concern** The Trustees consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## **Income** Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors’ conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. ## **Expenditure** Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered. ## **Operating leases** Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period they are incurred. ## **Tangible fixed assets** Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Equipment - 20 % per annum Straight line basis Freehold Property - 4% per annum Straight line basis ## **Expenditure on management and administration of the charity** Administration expenditure includes all expenditure not directly related to the charitable activity or fundraising ventures. This includes costs of running office premises, staff salaries for administrative staff and audit fees. -8- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Notes to the accounts for the year ended 31 March 2022** ||2022|2021| |---|---|---| ||£|£| |**2. Activities for generating funds**||| |Children’s Centre Income|93,131|4,035| |Rent of surplus property|105,794|105,813| |1940’s House Income|3,847|-| |Children at War Day visits|25,451|3,375| |Management fees|26,017|-| |Miscellaneous Income|3,660|2,996| ||______|______| ||257,900|116,219| ||______|______| |**3. Direct charitable expenditure**||| |Activity|5,939|2,084| |Premises costs|103,073|68,897| |Staff costs|129,207|104,072| |Depreciation/profit on disposal|86,783|81,392| |Bad debt|-|(62,750)| ||______|______| ||325,002|193,695| ||______|______| |**4. Management expenditure**||| |Office rent and services|16,779|11,216| |Accountancy fee|2,250|2,250| |Other administrative costs|20,119|21,291| ||______|______| ||39,148|34,757| ||______|______| |**5. Surplus for the year**||| |The surplus of income over expenditure is stated after charging:||| |Depreciation of tangible fixed assets||| |- owned by the charity|86,783|81,392| |Accountancy fees|2,250|2,250| ||____|____| -9- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Notes to the accounts for the year ended 31 March 2022** ## **6. Staff costs** No remuneration was paid to trustees in the year, nor was any expenses reimbursed to them. The staff costs of the remaining staff were: ||2022|2021| |---|---|---| ||£|£| |Wages and salaries|121,544|98,146| |Social security costs|5,926|4,630| |Pension|1,737|1,296| ||______|______| ||129,207|104,072| ||______|______| The average weekly number of staff employed, calculated as full time equivalents during the year was as follows: ||2022|2021| |---|---|---| |Direct charitable work|21|6| |Administrative|2|2| -10- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Notes to the accounts for the year ended 31 March 2022** ## **7. Tangible assets** |**7. Tangible assets**|||| |---|---|---|---| |||Equipment|| ||Freehold|Fixtures &|| ||Property|fittings|
Total| ||£|£|£| |**Cost**|||| |At 1 April 2021|1,745,313|260,332|2,005,645| |Additions|-|31,392|31,392| ||________|_______|________| |At 31 March 2022|1,745,313|291,724|2,037,037| ||________|_______|_______| |**Depreciation**|||| |At 1 April 2021|1,129,713|232,725|1,362,438| |Charge for the year|69.813|16,970|86,783| ||________|______|________| |At 31 March 2022|1,199,526|249,695|1,449,221| ||________|______|________| |**Net Book Values**|||| |At 31 March 2022|545,787|42,029|587,816| ||======|=====|=======| |At 31 March 2021|615,600|27,607|643,207| ||=======|=====|=======| |||2022|2021| |||£|£| |**8. Debtors**|||| |Trade Debtors||32,125|11,253| |Vat recoverable||-|1,188| |Amounts owed by subsidiary undertakings||50,000|50,010| |||______|_____| |||82,125|62,451| |||______|_____| -11- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Notes to the accounts for the year ended 31 March 2022** ||||2022|2021| |---|---|---|---|---| ||||£|£| |**9. Creditors: amounts falling due**||||| |**within one year**||||| |Bank loan (Secured)|||18,161|33,686| |Other taxes and social security|||7,819|-| |Trade creditors|||6,168|5,653| |Corporation tax|||44|57| |Accruals|||10,251|2,950| |Other creditors and Deferred Income|||20,041|2,857| ||||______|______| ||||62,484|45,203| ||||______|______| |Bank Loan is secured by a fixed and floating|charge.|||| |**10. Creditors: amounts falling due after**||||| |**more than one year**||||| |Bank loan|||-|17,534| ||||______|______| |Bank Loan is secured by a fixed and floating|charge.|||| |**11. Analysis of net assets between funds**||||| ||Unrestricted||Restricted|| ||General Fund||Income Fund|Total| |Tangible fixed assets|587,816||-|587,816| |Net current assets|395,787||-|395,787| |Long term liabilities|-||-|-| ||________||_____|________| ||983,603||-|983,603| ||________||_____|________| |**12. Reconciliation of movement in funds**||||| |||Restricted|Unrestricted|Total| |||£|£|£| |Net deficit for the year||-|
(49,874)|(49,874)| |||____|
_______|_______| |Net movements in the funds for the year||-|
(49,874)|(49,874)| |Total Funds:||||| |Brought forward||-|
1,033,477|1,033,477| |||____|
_______|_______| |Carried Forward||-|
983,603|983,603| |||====|
======|======| -12- ## **THE LINCOLNSFIELDS CENTRE LIMITED** ## **Detail of Income and Expenditure for the year ended 31 March 2022** ||2022||2021|| |---|---|---|---|---| ||£|£|£|£| |**Income**||||| |Activities/Hire|257,900||116,219|| |Covid Grant|56,000||90,000|| |Furlough grant|-||29,834|| |Donations|366||587|| |Interest Received|12||77|| ||______|314,278|______|236,717| |**Expenses**||||| |Wages and salaries|127,470||102,776|| |Pension|1,737||1,296|| |Rates and Water|4,549||1,582|| |Repairs and maintenance|43,104||15,793|| |Computer Maintenance|4,872||4,374|| |Cleaning and laundry|10,682||6,061|| |Insurance|14,456||12,821|| |Travel|434||324|| |Stationery/advertising|3,007||2,157|| |Telephone and postage|4,154||3,286|| |Outings/activities|5,939||2,084|| |Heating and lighting|47,060||43,856|| |Miscellaneous|1,111||1,098|| |Bad debts|-||(62,750)|| |Loan interest|626||1,110|| |Accountancy Fees|2,250||2,250|| |Legal and professional fees|2,890||7,885|| |Bank charges|1,206||1,057|| |Advertising|1,820|||| |Corporation tax|2||15|| ||_____|277,369|_____|147,075| |||______||______| |Profit before Depreciation||36,909||89,642| |Depreciation||86,783||81,392| |||______||______| |Net (deficit)/surplus for the year||(49,874)||8,250| |||______||______| -13-