COMPANY REGISTRATION NUMBER: 00779935 CHARITY REGISTRATION NUMBER: 306225
Buckholme Towers Limited Company Limited by Guarantee Unaudited Financial Statements 31 August 2021
CLEARSKY ACCOUNTING & PAYROLL
Chartered accountants Optionis House 840 Ibis Court Centre Park Warrington Cheshire WA1 1RL
Buckholme Towers Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2021
| Page | |
|---|---|
| Trustees annual report (incorporating the director's report) | 1 |
| Chartered accountant's report to the board of trustees on the | |
| preparation of the unaudited statutory financial statements | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Buckholme Towers Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2021.
Reference and administrative details
Registered charity name Buckholme Towers Limited Charity registration number 306225 Company registration number 00779935 Principal office and registered Apollo House office Whitehills Business Park Hallam Way Blackpool FY4 5FS
The trustees
C Westhead J Gunton P Hartles R Goulden S Paterson S Ross Accountants ClearSky Accounting & Payroll Chartered accountants Optionis House 840 Ibis Court Centre Park Warrington Cheshire WA1 1RL
Structure, governance and management
To carry out charitable activities as defined in our Articles of Association.
The building owned by Buckholme Towers Limited is leased to Mr and Mrs Howard who run The Old School Nursery from the premises.
Objectives and activities
To carry out charitable activities as defined in our Articles of Association.
The building owned by Buckholme Towers Limited is leased to Mr and Mrs Howard who run The Old School Nursery from the premises.
1
Buckholme Towers Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2021
Strategic report
We will continue to raise funds by leasing of the property and use those funds to support educational activities as detailed in our Articles of Association.
Achievements and performance
The company continued to work positively with the Old School Nursey to ensure our charitable objectives were met.
Financial review
Total income amounted to £30,255 (2020:£24,765),expenditure £10,909(2020:£2,336). Total funds at 31st August 2021 were £69,471.
The trustees' annual report and the strategic report were approved on 17 July 2022 and signed on behalf of the board of trustees by:
J Gunton Trustee
2
Buckholme Towers Limited
Company Limited by Guarantee
Chartered Accountant's Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of Buckholme Towers Limited
Year ended 31 August 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Buckholme Towers Limited for the year ended 31 August 2021, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes from the charity's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
CLEARSKY ACCOUNTING & PAYROLL Chartered accountants
Optionis House 840 Ibis Court Centre Park Warrington Cheshire WA1 1RL
3
Buckholme Towers Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 30,250 | 30,250 | 24,750 |
| Investment income | 6 | 5 | 5 | 15 |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total income | 30,255 | 30,255 | 24,765 | |
| =========================== | =========================== | =========================== | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | (10,231) | (10,231) | (2,984) |
| Costs of other trading activities | 8 | (678) | (678) | (648) |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total expenditure | (10,909) | (10,909) | (2,336) | |
| =========================== | =========================== | =========================== | ||
| --------------------------- | --------------------------- | --------------------------- | ||
| Net income and net movement in funds | 19,346 | 19,346 | 27,101 | |
| =========================== | =========================== | =========================== | ||
| Reconciliation of funds | ||||
| Total funds brought forward as previously reported | 49,478 | 49,478 | 22,377 | |
| Prior year adjustment | 647 | 647 | – | |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total funds brought forward as restated | 50,125 | 50,125 | 22,377 | |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total funds carried forward | 69,471 =========================== |
69,471 =========================== |
49,478 =========================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 10 form part of these financial statements.
4
Buckholme Towers Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 10 | 5,750 | 5,750 |
| Current assets | |||
| Cash at bank and in hand | 64,369 | 44,376 | |
| Creditors: amounts falling due within one year | 11 | 648 | 648 |
| --------------------------- | --------------------------- | ||
| Net current assets | 63,721 | 43,728 | |
| --------------------------- | --------------------------- | ||
| Total assets less current liabilities | 69,471 | 49,478 | |
| --------------------------- | --------------------------- | ||
| Net assets | 69,471 | 49,478 | |
| =========================== | =========================== | ||
| Funds of the charity | |||
| Unrestricted funds | 69,471 | 49,478 | |
| --------------------------- | --------------------------- | ||
| Total charity funds | 12 | 69,471 =========================== |
49,478 =========================== |
For the year ending 31 August 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 17 July 2022, and are signed on behalf of the board by:
J Gunton Trustee
The notes on pages 6 to 10 form part of these financial statements.
5
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Apollo House, Whitehills Business Park, Hallam Way, Blackpool, FY4 5FS.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
6
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
7
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold property | - | over 25 years |
|---|---|---|
| Inprovements to property | - | 25% reducing balance |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Limited by guarantee
The liability of the members of the Company is limited by the terms of the guarentee to £1 per member.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Rent Received | 30,250 | 30,250 | 24,750 | 24,750 |
| =========================== | =========================== | =========================== | =========================== |
8
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 5 | 5 | 15 | 15 |
| ============== | ============== | ============== | ============== | |
| Costs of raising donations and | legacies | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Costs of raising donations and | ||||
| legacies - Donations | 10,195 | 10,195 | (3,020) | (3,020) |
| Computer costs | 36 | 36 | 36 | 36 |
| --------------------------- | --------------------------- | ----------------------- | ----------------------- | |
| 10,231 =========================== |
10,231 =========================== |
(2,984) ======================= |
(2,984) ======================= |
7. Costs of raising donations and legacies
8. Costs of other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Costs of other trading activities - Other | ||||
| activity 1 | 678 | 678 | 648 | 648 |
| ============== | ============== | ============== | ============== |
9. Trustee remuneration and expenses
Neither the trustees nor any person connected to any of the trustees have received any remuneration during the year or any individual expenses.
10. Tangible fixed assets
| Freehold | Plant and | ||
|---|---|---|---|
| property | machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 September 2020 and 31 August 2021 | 55,207 | 2,875 | 58,082 |
| =========================== | ======================= | =========================== | |
| Depreciation | |||
| At 1 September 2020 and 31 August 2021 | 49,612 | 2,720 | 52,332 |
| =========================== | ======================= | =========================== | |
| Carrying amount | |||
| At 31 August 2021 | 5,595 | 155 | 5,750 |
| =========================== | ======================= | =========================== | |
| At 31 August 2020 | 5,595 | 155 | 5,750 |
| =========================== | ======================= | =========================== |
9
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
11. Creditors: amounts falling due within one year
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Accruals and deferred income | 648 | 648 | ||||
| ============== | ============== | |||||
| 12. | Analysis of charitable funds | |||||
| Unrestricted funds | ||||||
| At | At | |||||
| 1 September | Prior year | 31 August 2 |
||||
| 2020 | Income | Expenditure | adjustments | 021 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 49,478 | 30,255 | (10,909) | 647 | 69,471 | |
| =========================== | =========================== | =========================== | ============== | =========================== | ||
| At | At | |||||
| 1 September | Prior year | 31 August 20 |
||||
| 2019 | Income | Expenditure | adjustments | 20 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 22,377 | 24,765 | 2,336 | – | 49,478 | |
| =========================== | =========================== | ======================= | ============== | =========================== |
10
COMPANY REGISTRATION NUMBER: 00779935 CHARITY REGISTRATION NUMBER: 306225
Buckholme Towers Limited Company Limited by Guarantee Unaudited Financial Statements 31 August 2021
CLEARSKY ACCOUNTING & PAYROLL
Chartered accountants Optionis House 840 Ibis Court Centre Park Warrington Cheshire WA1 1RL
Buckholme Towers Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2021
| Page | |
|---|---|
| Trustees annual report (incorporating the director's report) | 1 |
| Chartered accountant's report to the board of trustees on the | |
| preparation of the unaudited statutory financial statements | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Buckholme Towers Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2021.
Reference and administrative details
Registered charity name Buckholme Towers Limited Charity registration number 306225 Company registration number 00779935 Principal office and registered Apollo House office Whitehills Business Park Hallam Way Blackpool FY4 5FS
The trustees
C Westhead J Gunton P Hartles R Goulden S Paterson S Ross Accountants ClearSky Accounting & Payroll Chartered accountants Optionis House 840 Ibis Court Centre Park Warrington Cheshire WA1 1RL
Structure, governance and management
To carry out charitable activities as defined in our Articles of Association.
The building owned by Buckholme Towers Limited is leased to Mr and Mrs Howard who run The Old School Nursery from the premises.
Objectives and activities
To carry out charitable activities as defined in our Articles of Association.
The building owned by Buckholme Towers Limited is leased to Mr and Mrs Howard who run The Old School Nursery from the premises.
1
Buckholme Towers Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2021
Strategic report
We will continue to raise funds by leasing of the property and use those funds to support educational activities as detailed in our Articles of Association.
Achievements and performance
The company continued to work positively with the Old School Nursey to ensure our charitable objectives were met.
Financial review
Total income amounted to £30,255 (2020:£24,765),expenditure £10,909(2020:£2,336). Total funds at 31st August 2021 were £69,471.
The trustees' annual report and the strategic report were approved on 17 July 2022 and signed on behalf of the board of trustees by:
J Gunton Trustee
2
Buckholme Towers Limited
Company Limited by Guarantee
Chartered Accountant's Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of Buckholme Towers Limited
Year ended 31 August 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Buckholme Towers Limited for the year ended 31 August 2021, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes from the charity's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
CLEARSKY ACCOUNTING & PAYROLL Chartered accountants
Optionis House 840 Ibis Court Centre Park Warrington Cheshire WA1 1RL
3
Buckholme Towers Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 30,250 | 30,250 | 24,750 |
| Investment income | 6 | 5 | 5 | 15 |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total income | 30,255 | 30,255 | 24,765 | |
| =========================== | =========================== | =========================== | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | (10,231) | (10,231) | (2,984) |
| Costs of other trading activities | 8 | (678) | (678) | (648) |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total expenditure | (10,909) | (10,909) | (2,336) | |
| =========================== | =========================== | =========================== | ||
| --------------------------- | --------------------------- | --------------------------- | ||
| Net income and net movement in funds | 19,346 | 19,346 | 27,101 | |
| =========================== | =========================== | =========================== | ||
| Reconciliation of funds | ||||
| Total funds brought forward as previously reported | 49,478 | 49,478 | 22,377 | |
| Prior year adjustment | 647 | 647 | – | |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total funds brought forward as restated | 50,125 | 50,125 | 22,377 | |
| --------------------------- | --------------------------- | --------------------------- | ||
| Total funds carried forward | 69,471 =========================== |
69,471 =========================== |
49,478 =========================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 10 form part of these financial statements.
4
Buckholme Towers Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 10 | 5,750 | 5,750 |
| Current assets | |||
| Cash at bank and in hand | 64,369 | 44,376 | |
| Creditors: amounts falling due within one year | 11 | 648 | 648 |
| --------------------------- | --------------------------- | ||
| Net current assets | 63,721 | 43,728 | |
| --------------------------- | --------------------------- | ||
| Total assets less current liabilities | 69,471 | 49,478 | |
| --------------------------- | --------------------------- | ||
| Net assets | 69,471 | 49,478 | |
| =========================== | =========================== | ||
| Funds of the charity | |||
| Unrestricted funds | 69,471 | 49,478 | |
| --------------------------- | --------------------------- | ||
| Total charity funds | 12 | 69,471 =========================== |
49,478 =========================== |
For the year ending 31 August 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 17 July 2022, and are signed on behalf of the board by:
J Gunton Trustee
The notes on pages 6 to 10 form part of these financial statements.
5
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Apollo House, Whitehills Business Park, Hallam Way, Blackpool, FY4 5FS.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
6
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
7
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold property | - | over 25 years |
|---|---|---|
| Inprovements to property | - | 25% reducing balance |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Limited by guarantee
The liability of the members of the Company is limited by the terms of the guarentee to £1 per member.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Rent Received | 30,250 | 30,250 | 24,750 | 24,750 |
| =========================== | =========================== | =========================== | =========================== |
8
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 5 | 5 | 15 | 15 |
| ============== | ============== | ============== | ============== | |
| Costs of raising donations and | legacies | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Costs of raising donations and | ||||
| legacies - Donations | 10,195 | 10,195 | (3,020) | (3,020) |
| Computer costs | 36 | 36 | 36 | 36 |
| --------------------------- | --------------------------- | ----------------------- | ----------------------- | |
| 10,231 =========================== |
10,231 =========================== |
(2,984) ======================= |
(2,984) ======================= |
7. Costs of raising donations and legacies
8. Costs of other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Costs of other trading activities - Other | ||||
| activity 1 | 678 | 678 | 648 | 648 |
| ============== | ============== | ============== | ============== |
9. Trustee remuneration and expenses
Neither the trustees nor any person connected to any of the trustees have received any remuneration during the year or any individual expenses.
10. Tangible fixed assets
| Freehold | Plant and | ||
|---|---|---|---|
| property | machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 September 2020 and 31 August 2021 | 55,207 | 2,875 | 58,082 |
| =========================== | ======================= | =========================== | |
| Depreciation | |||
| At 1 September 2020 and 31 August 2021 | 49,612 | 2,720 | 52,332 |
| =========================== | ======================= | =========================== | |
| Carrying amount | |||
| At 31 August 2021 | 5,595 | 155 | 5,750 |
| =========================== | ======================= | =========================== | |
| At 31 August 2020 | 5,595 | 155 | 5,750 |
| =========================== | ======================= | =========================== |
9
Buckholme Towers Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2021
11. Creditors: amounts falling due within one year
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Accruals and deferred income | 648 | 648 | ||||
| ============== | ============== | |||||
| 12. | Analysis of charitable funds | |||||
| Unrestricted funds | ||||||
| At | At | |||||
| 1 September | Prior year | 31 August 2 |
||||
| 2020 | Income | Expenditure | adjustments | 021 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 49,478 | 30,255 | (10,909) | 647 | 69,471 | |
| =========================== | =========================== | =========================== | ============== | =========================== | ||
| At | At | |||||
| 1 September | Prior year | 31 August 20 |
||||
| 2019 | Income | Expenditure | adjustments | 20 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 22,377 | 24,765 | 2,336 | – | 49,478 | |
| =========================== | =========================== | ======================= | ============== | =========================== |
10
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examlner'% Report Rgport to thetrusteesl members of Buckholme Towerts Limited On accounts lor the year onded 31.08.2021 Charityno (if any} 306255 Set out on pages I report to'the trustees on my examination of the accounts of the above charity (Ihe Trust ) for the year ended 31108 12021. Responslbllitles and ba$15 of report As the charity'$ trustees, you are responsible for the preparation of the aGGounts in accordance with the requirements of the Charities Act 2011 {'the ACY). I report in rtspect of my examination of the Trust's accounts carried out under section 145 of th8 2011 Act and in carrying out my examination,. I have followed all the applicable Dlrections given.by Éhe Charily Commission under section 14515l<b) of the Act. Independent I have compleled my examination. I confirm that no material matters have examinerfs statement come lo my attenlion in connection wth the examinalion lolher than that disclosed below") whleh gives me cause to believe Ihat in, ary material respect.. the accounting records were not kept in accordance wilh secllon 130 of the Charities Act- or th8 accounts did not accord with th8 accountlng records., or the Èccounts did not compiy with the applicable requirements conceming the form and content of accounts set out in the Charittes (Accounts and Reports) Regulatlons 2008 other than any rèquirement th.at the accounts give a Irue and fairf view whiGh is nol a matter considered a5 part of an independent examination. l.have no conG8ms and have come across no other matters In connection with the examination to which attention should be drawr7 in this report in order to enable a proper understanding of th& accounls to be reached. ' Pleasg d8letg Ihe words ih the brackets if they do nol apply. Date: 2010712D22 Signed: Name". Tracey Letchor Relevant professlonal qualifi¢atlon(s) or body (if any): MAAT A Address: CIO Apollo House, Hallam Way IER Oct2018
Blackpool, FY4 2RH Section B Disclosure Only cDmplete if the examiller needs to highlight material matters of conGern (see CC32, Independent examination of charty accounts.. direclions and guidance for examiners). Give here brigf detalls of any items that the examiner vAsheg to disclose. IER Oct 2018