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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 00956124 (England and Wales) REGISTERED CHARITY NUMBER: 500571

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2020 for

Coronation House (Dalton in Furness) Society Limited

Coronation House (Dalton in Furness) Society Limited Contents of the Financial Statements for the Year Ended 31 December 2020

Page
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 15
Detailed Statement of Financial Activities 16 to 17

1

Coronation House (Dalton in Furness) Society Limited

Report of the Trustees

for the Year Ended 31 December 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 00956124 (England and Wales)

Registered Charity number

500571

Registered office

25 Coronation Drive Dalton In Furness Cumbria LA15 8QJ

Trustees

Reverend R Wilson (Chairman) Miss F Corkish (Secretary) P Wilcock Mrs J Hargreaves Mrs J Davis Miss J Tomlinson Miss A Taylor

Company Bursar

C Dean (Bursar)

Company Secretary

Miss F Corkish (Secretary)

Independent examiner

Jemma Jefferies (FCA) The Examiner's relevant professional body is ICAEW

Bankers:

National Westminster Bank Plc Cumberland Building Society 2 Queen Street 188 Dalton Road Ulverston Barrow in Furness Cumbria Cumbria LA12 7AZ LA14 1PR

2

Coronation House (Dalton in Furness) Society Limited

Report of the Trustees

for the Year Ended 31 December 2020

REFERENCE AND ADMINISTRATIVE DETAILS

Objectives and Activities of the Charity

The objectives of the company are laid down in the memorandum and articles of association are to establish homes and receive aged, impotent and poor people of all classes, for the advancement of religion and education and for other charitable purposes beneficial to the community.

The trustees confirm that they have referred to the general guidance on public benefit issued by the charity commission when reviewing and planning the charity's aims and objectives.

The principle activity is the provision of very sheltered accommodation for people in need.

Achievements and Performance of the Charity

2020 was the 14th year of operation of our independent hostel on Coronation Drive, Dalton-inFurness. The hostel operated well and the average occupancy was 86%.

Financial Review

Details of the financial aspect of the year are set out in the accounts. The net movement of funds was a £7,914 decrease (2019 £15,679 increase). This was after an unrealised reduction in the valuation of the Society's investments during the year of £5,093 (2019 unrealised increase £8,679)

The total reserves at the year-end after revaluing investments stood at £488,733 (2019 £496,647)

Reserves policy and going concern

The Executive Committee has set a policy which requires reserves be maintained at a level which ensures that the Society's core activity could continue during a period of unforeseen difficulty. The society continues to ensure that reserves this year are maintained at an adequate level and hence the society has no going concern issues.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Specific changes in fixed assets

Any Changes in fixed assets are shown in detail in the notes to the accounts. In 2020 there have been no additions to fixed assets (2019 also no additions).

Share Capital

The company is limited by guarantee and therefore has no share capital

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The executive committee is responsible for maintaining a sound system of internal control which:

3

Coronation House (Dalton in Furness) Society Limited

Report of the Trustees for the Year Ended 31 December 2020

REFERENCE AND ADMINISTRATIVE DETAILS (continued)

The executive committee is also responsible for reviewing the effectiveness of the system of internal control.

The internal control system is designed to manage rather than eliminate the risk of failure to achieve business objectives and can only provide reasonable, and not absolute, assurance against material misstatement or loss.

The process for identifying, evaluating and managing the significant risks faced by the society is ongoing. This process has been in place for the year ended 31 December 2020 and up to the date of approval of the annual report and financial statements and is regularly reviewed by the executive committee.

STRUCTURE, GOVERNANCE AND MANAGEMENT

NATURE OF THE GOVERNING DOCUMENT AND CONSTITUTION OF THE CHARITY

Governing document

Coronation House (Dalton-in-Furness) Society Limited is a charitable company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The constitution of the charitable company is laid down in the Memorandum and Articles of Association.

Recruitment and Appointment of the Executive Committee

The method of appointment or election of the executive committee is as laid down in the Memorandum and Articles of Association. The trustees approach someone who they think may be interested and have the time to commit to the organisation.

Executive Committee Induction and Training

All new members of the Executive Committee are given a role and description outlining what the Society expects of from a member.

THE ORGANISATIONAL STRUCTURE AND HOW DECISIONS ARE MADE

The Society shall each year hold a general meeting as its Annual General Meeting in addition to any other meetings in that year. These meetings allow for a review of the income and expenditure and discussion and debate to take place and any decisions are shown in the written minutes.

Every member of the Society shall either sign a written application or consent to become a member or sign the register of members on becoming a member.

Any member may withdraw from the Society by giving six months' notice in writing to the Secretary of his intention so to do.

One third of the committee members or, if the number is not three or a multiple of three, then the number that is nearest to one-third shall retire from office

4

Coronation House (Dalton in Furness) Society Limited

Report of the Trustees

for the Year Ended 31 December 2020

The name of the Chief Executive Officer and other senior staff member(s) to whom day to day management of the charity is delegated by the charity trustees.

REFERENCE AND ADMINISTRATIVE DETAILS

The day to day management is carried out as follows:

STATEMENT OF DIRECTORS' AND TRUSTEES' RESPONSIBILITIES

The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

............................................. Reverend R Wilson (Chairman) - Trustee

5

Coronation House (Dalton in Furness) Society Limited

Independent Examiner's Report to the Trustees for the Year Ended 31 December 2020

I report on the accounts for the year ended 31 December 2020 set out on pages seven to fifteen.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Jemma Jefferies (FCA) The examiner’s relevant professional body is ICAEW

Date:

6

Coronation House (Dalton in Furness) Society Limited

Statement of Financial Activities

for the Year Ended 31 December 2020

Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
2
Charitable activities
3
Investment income
4
Other
5
Total
EXPENDITURE ON:
Charitable activities
6
Other
6
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
CONTINUING OPERATIONS
Net income/(expenditure) before investment
gains/(losses)		 2020
Total funds
(unrestricted)
£
364
108,610
1,364
9,544
119,882
121,834
869
122,703
(2,821)
(5,093)
(7,914)
496,647
488,733		 2019
Total funds
(unrestricted)
£
250
114,309
1,953
2,190
118,702
110,861
841
111,702
7,000
8,679
15,679
480,969
496,647

All income and expenditure has arisen from continuing activities.

7

Coronation House (Dalton in Furness) Society Limited

Balance Sheet

for the Year Ended 31 December 2020

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Investments
12
Cash at bank and in hand
Prepayments and other debtors
11
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
ACCRUALS AND DEFERRED
INCOME
14
NET ASSETS
FUNDS
Unrestricted funds
15
TOTAL FUNDS		 2020
£
400,740
76,249
13,754
2,157
92,160
(2,460)
89,700
490,440
(1,706)
488,734
488,734
488,734		 2019
£
401,314
81,341
17,979
120
99,440
(2,428)
97,012
498,326
(1,679)
496,647
496,647
496,647

8

Coronation House (Dalton in Furness) Society Limited

Balance Sheet - continued

for the Year Ended 31 December 2020

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.

The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:

............................................. Reverend R Wilson (Chairman) - Trustee

9

Coronation House (Dalton in Furness) Society Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

1 ACCOUNTING POLICIES

Accounting convention

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the historical cost convention and in accordance with the financial reporting standard for smaller entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.

The financial statements are prepared,on a going concern basis, under the historical cost convention as modified by the revaluation of freehold land and buildings and fixed asset investments.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Voluntary income, legacies and bequests are recognised when received. Donations are accounted for on a cash basis.

Grants of a revenue nature are recorded on a receivable basis and credited to the income and expenditure account over the period to which the grant relates.

Dividends are included in the income and expenditure account when they are declared.

Rental income is included in the income and expenditure account net of collection charges on a receivable basis.

Bank Interest received is included on an actual receipts basis.

There has been no offsetting of assets and liabilities or income and expenses, unless required or permitted by FRS 102 SORP or FRS 102.

The charity has recieved Covid related grants in the reporting period.

10

Coronation House (Dalton in Furness) Society Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the Statement Of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned based on the number of employees in each function.

The value of volunteer help received is not included in the accounts but is described in the trustees report.

Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Housing association grants

HAG's are made by the department of the environment and were shown in the balance sheet notes as a deduction from the cost of Land and Building HAG-assisted schemes. The company is no longer a Housing Association and the grant has been transferred to the designated reserves.

Fixed Assets: Housing, land and building: HAG-assisted schemes

Cost includes, irrespective of the source of finance, costs of acquisition and development expenditure.

Fixed Assets: Fixtures, fittings and equipment

Assets donated to the society are not included in the Balance Sheet; other assets are included at cost

Depreciation

Land and Buildings: Depreciation is not now charged on the cost of land and buildings as the directors believe that the current value is its residual value.

Fixtures, fittings and equipment: Depreciation is charged at 20% straight line per annum on cost.

Stocks

All purchases of food and other materials are written off to the income and expenditure account when the expense is incurred

11

Coronation House (Dalton in Furness) Society Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

Investments

Investments are included at market value at the year end. Any changes in the value of an investment are reflected through the income and expenditure account.

Taxation

The society has charitable status and is exempt from corporation tax on income it has received. The society is not registered for VAT. Accordingly no VAT is charged to residents and expenditure in the income and expenditure account includes the relevant VAT.

Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated Reserve

The designated reserve has been established to ensure that funds are available to meet the cost of future major repairs and the value of the HAG.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2 DONATIONS AND LEGACIES

Others
3
CHARITABLE INCOME
Income from lettings
4
INVESTMENT INCOME
Dividends - Charities aid foundation units
5
OTHER INCOME
Solar Panels
Bank Interest
Covid related grants		 31.12.20
£
364
364
31.12.20
£
108,610
31.12.20
£
1,364
31.12.20
£
1,586
7
7,951
9,544		 31.12.19
£
250
250
31.12.19
£
114,309
31.12.19
£
1,953
31.12.19
£
2,181
9
-
2,190

12

Coronation House (Dalton in Furness) Society Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

6 ANALYSIS OF EXPENDITURE

ANALYSIS OF EXPENDITURE
Expenditure on charitable activities
Employee costs
Household costs
General admin expenses
Other expenditure
Governance		 31.12.20
£
80,457
38,189
3,188
121,834
869		 31.12.19
£
65,623
42,625
2,613
110,861
841

7 NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets
Independent examiners fees		 31.12.20
£
574
869
1,443		 31.12.19
£
637
841
1,478

8 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

9 STAFF COSTS

Wages and salaries
Training and welfare
Employers NIC
Employer pension contributions		 31.12.20
£
77,960
-
1,532
965
80,457		 31.12.19
£
63,717
24
1,031
851
65,623

The average monthly number of employees during the year was as follows:

31.12.20 31.12.19
7 5

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

13

Coronation House (Dalton in Furness) Society Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

10 TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 January 2020 and 31 December 2020
408,687
DEPRECIATION
At 1 January 2020
8,221
Charge for year
-
At 31 December 2020
8,221
NET BOOK VALUE
At 31 December 2020
400,466
At 31 December 2019
400,466
11 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
12 CURRENT ASSET INVESTMENTS
Listed investments
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security amd other taxes
Other creditors
14 ACCRUALS AND DEFERRED INCOME
Accruals and deferred income		 Fixtures and
Fittings
£
21,336
20,488
574
21,062
274
848
31.12.20
£
-
2,157
2,157
31.12.20
£
76,249
31.12.20
£
2,460
-
2,460
31.12.20
£
1,706		 Totals
£
430,023
28,709
574
29,283
400,740
401,314
31.12.19
£
120
-
120
31.12.19
£
81,341
31.12.19
£
2,303
125
2,428
31.12.19
£
1,679

14

Coronation House (Dalton in Furness) Society Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

15 ANALYSIS OF NET ASSETS BETWEEN FUNDS

At 31 December 2020
Tangible fixed assets
Investments at valuation
Current assets
Current liabilities
At 31 December 2019
Tangible fixed assets
Investments at valuation
Current assets
Current liabilities
16 MOVEMENT IN FUNDS
At 1 January 2020
Income
Expense
Gain/Loss on investments
At 31 December 2020		 Unrestricted
General
funds
123,722
119,882
(122,703)
(5,093)
115,808		 Designated
funds
£
364,597
-
8,328
-
372,925
Designated
funds
£
364,597
-
8,328
-
372,925
Designated
Cyclical
repair fund
8,328
-
-
-
8,328		 General
funds
£
36,143
76,249
7,583
(4,166)
115,809
General
funds
£
36,717
81,341
9,771
(4,107)
123,722
Designated
H A
grant
364,597
-
-
-
364,597		 Total
funds
£
400,740
76,249
15,911
(4,166)
488,734
Total
funds
£
401,314
81,341
18,099
(4,107)
496,647
Total
funds
496,647
119,882
(122,703)
(5,093)
488,733

17 RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

15

Coronation House (Dalton in Furness) Society Limited

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

INCOME AND ENDOWMENTS
Donations and legacies
Grants and Donations
Charitable activities
Income from lettings
Investment income
Income from investments
Other income
Interest received
Solar Panels
Covid related grants
Total incoming resources
EXPENDITURE
Household costs
Food and drink purchases
Cleaning
Rates and water
Insurance
Light and heat
Gardener/handyman Costs
Repairs and maintenance
Finance
Unrealised Loss/(Gain) on investments
Employee costs
Staff training and welfare
Wages
Social security
Pensions
General admin expenses
Depreciation of tangible fixed assets
Telephone and internet
Subscriptions
Equipment expensed
Sundry
Legal fees		 2020
£
364
108,610
1,364
7
1,586
7,951
119,882
12,695
465
6,853
2,057
10,098
2,184
3,837
38,189
5,093
-
77,960
1,532
965
80,457
574
427
157
631
1,327
72		 2019
£
250
114,309
1,953
9
2,181
-
118,702
14,553
509
7,715
2,057
7,647
1,740
8,404
42,625
(8,679)
24
63,717
1,031
851
65,623
637
399
153
578
761
85

16

Coronation House (Dalton in Furness) Society Limited

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

Governance costs
Accountancy fees
Total resources expended
Net income/(expenditure)		 2020
£
3,188
869
127,796
(7,914)		 2019
£
2,613
841
103,023
15,679

17