2021-03-31-accounts - 1st Sheet (St Mary's) Scout Group

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Sheet Scout Group

Charity No. 302272

Trustees' Report and Unaudited Accounts

31 March 2021

Sheet Scout Group Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 to 12
Detailed Statement of Financial Activities	13 to 15

Page 1

Sheet Scout Group Trustees Annual Report

Sheet SScouts

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 302272

Trustees

The following trustees served during the year:

M. Harvey H.E. Hughes S. Humphrey J. Upfield

Accountants

Accounting & Tax Solutions Ltd 90 Pelham Road

Cowes Isle of Wight PO31 7DN

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

M. Harvey Trustee 29 March 2022

Page 2

Sheet Scout Group Independent Examiners Report

Independent Examiner's Report to the trustees of Sheet Scout Group

I report to the trustees on my examination of the financial statements of Sheet Scout Group for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

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.

C Stolborg B.A. Accounting Accounting & Tax Solutions Ltd 90 Pelham Road Cowes

Isle of Wight PO31 7DN 29 March 2022

Page 3

Sheet Scout Group Statement of Financial Activities

for the year ended 31 March 2021

Unrestricted funds	Total funds	Total funds
2021	2021	2020
£	£	£

8,508	8,508	18,535
51	51	1,244
6,155	6,155	10,159
10,300	10,300	2,730
25,014	25,014	32,668

9,087	9,087	15,166
10,426	10,426	18,230
19,513	19,513	33,396
-	-	-
5,501	5,501	(728)
-	-	-
5,501	5,501	(728)

5,501	5,501	(728)

276,542	276,542	277,271
282,043	282,043	276,543

Page 4

Sheet Scout Group Balance Sheet at 31 March 2021

Charity No. 302272 Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors:Amount falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds Reserves 14 Total funds Approved by the trustees on 29 March 2022	2021 £ 243,125 243,125 - 30,160 9,108 39,268 (350) 38,918 282,043 282,043 282,043 282,043 282,043 282,043	2020 £ 243,125
		243,125 60 - 33,357
		33,417 1
		33,418 276,543
		276,543
		276,543
		276,543
		276,543
		276,543

And signed on their behalf by:

M. Harvey Trustee 29 March 2022

Page 5

Sheet Scout Group Notes to the Accounts

for the year ended 31 March 2021

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

Sheet Scout Group Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

Sheet Scout Group Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

Sheet Scout Group Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from: Charitable activities Other trading activities Investments Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Income from other trading activities	Unrestricted £ 6,459 2,049 8,508 Unrestricted £ 26 25 - - 51	Unrestricted funds 2020 £ 18,534 1,244 10,159 2,730 32,667 15,166 18,230 33,396 (729) (729) (729) 277,271 276,542 Total 2021 £ 6,459 2,049 8,508 Total 2021 £ 26 25 - - 51	Total funds 2020 £ 18,534 1,244 10,159 2,730
			32,667 15,166 18,230
			33,396
			(729)
			(729)
			(729) 277,271
			276,542
			Total 2020 £ 8,420 10,115
			18,535
			Total 2020 £ 274 15 324 631
			1,244

Page 9

Sheet Scout Group Notes to the Accounts

5 Income from investments

Unrestricted £ 6,132 23 6,155 Unrestricted £ 300 10,000 10,300	Total 2021 £ 6,132 23 6,155 Total 2021 £ 300 10,000 10,300	Total 2020 £ 10,087 72
		10,159
		Total 2020 £ 2,730 -
		2,730

Unrestricted £ - - 9,087 9,087 Unrestricted £ 650 1,917 7,078 311 470 10,426	Total 2021 £ - - 9,087 9,087 Total 2021 £ 650 1,917 7,078 311 470 10,426	Total 2020 £ 1,312 5,070 8,784
		15,166
		Total 2020 £ 1,509 6,011 7,375 3,335 -
		18,230

9 Staff costs

No employee received emoluments in excess of £60,000.

Page 10

Sheet Scout Group Notes to the Accounts

10 Tangible fixed assets

	£ 233,160 233,160 233,160 233,160 2021 £ - - 2021 £ 30,160 30,160 2021 £	£ 9,965 9,965 9,965 9,965	£ 243,125
			243,125
			243,125
			243,125
			2020 £ 60
			60
			2020 £ -
			-
			2020 £
	350		(1)
At 1 April 2020 276,542 276,542	350 Incoming resources (including other gains/losses ) £ 25,014 25,014 Unrestricted funds £ - 38,918 38,918	Resources expended £ (19,513) (19,513) Restricted funds £ 243,125 - 243,125	(1)
			At 31 March 2021 £ 282,043
			282,043
			Total £ 243,125 38,918
			282,043

Page 11

Sheet Scout Group Notes to the Accounts

16 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents Net debt	At 1 April 2020 £	Cash flows £	At 31 March 2021 £
	33,357	(24,249)	9,108
	33,357 33,357	(24,249) (24,249)	9,108
			9,108

Page 12

Sheet Scout Group Statement of Cash flows for the year ended 31 March 2021

Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Decrease/(Increase) in stocks Increase in trade and other receivables Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from/(used in) investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2021 £ 5,501 (16,455) 60 (30,160) 351 (40,703) 16,455 16,455 - (24,248) 33,357 9,109	2020 £ (729) (12,889) (60) - -
		(13,678) 12,889
		(230,236)

		-

		(243,914)
		-
		(243,914)

Components of cash and cash equivalents
Cash and bank balances	9,108	33,357

	9,108	33,357

Page 13

Sheet Scout Group Detailed Statement of Financial Activities

for the year ended 31 March 2021

Income and endowments from: Donations and legacies Other trading activities Investments Other Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Other expenditure Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance	Unrestricted funds 2021 £ 6,459 2,049 8,508 26 25 - - 51 6,132 23 6,155 300 10,000 10,300 25,014 - - 9,087 9,087 9,087 650 1,917 2,567 - 720 900 3,845 1,613	Total funds 2021 £ 6,459 2,049 8,508 26 25 - - 51 6,132 23 6,155 300 10,000 10,300 25,014 - - 9,087 9,087 9,087 650 1,917 2,567 - 720 900 3,845 1,613	Total funds 2020 £ 8,420 10,115
			18,535
			274 15 324 631
			1,244
			10,087 72
			10,159
			2,730 -
			2,730
			32,668 1,312 5,070 8,784
			15,166
			15,166 1,509 6,011
			7,520
			1,118 1,856 920 2,753 100

Page 14

Sheet Scout Group

Detailed Statement of Financial Activities

Other premises costs General administrative costs, including depreciation and amortisation Equipment expensed Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- 7,078 - 311 311 350 120 470 10,426 19,513 - 5,501 5,501 - 5,501 276,542 282,043	- 7,078 - 311 311 350 120 470 10,426 19,513 - 5,501 5,501 - 5,501 276,542 282,043	628
			7,375
			2,906 429
			3,335
			- -
			-

			18,230
			33,396 -
			(728)
			(728) -
			(728)
			277,271
			276,543

Page 15