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2021-12-31-accounts

FINANCIAL STATEMENT OF ACCOUNTS

for the year ended 31 December 2021

for

Mere Brow and District Institute

Registered charity: 502956 (England and Wales)

Mere Brow and District Institute

Contents of the Financial Statement of Accounts

Page
Charity Information 1
Income Statement 2
Statement of Financial Position 3
Notes to the Financial Statement of Accounts 4
Report of the Independent Examiner 6

Mere Brow and District Institute

Charity information

TRUSTEES

REGISTERED OFFICE

REGISTERED CHARITY ACCOUNTANTS

William Hunter John Caunce Warren Hunter Robert Bryan Adrian Pendleton Samuel Caunce 65 The Gravel Mere Brow Tarleton Lancashire PR4 6JX 502956 My Online Accountant Chartered Accountants 83 Ducie Street Manchester Greater Manchester M1 2JQ

1

Mere Brow and District Institute

Income Statement

for the year ended 31 December 2021

Notes
Revenue
1
Cost of sales
GROSS PROFIT
Distribution costs
Administrative expenses
OPERATING PROFIT/(LOSS)
Finance costs
Other operating income
PROFIT/(LOSS) FOR THE YEAR		 2021
£
65,428
(7,900)
57,528
(384)
(50,745)
6,399
(142)
20,070
26,327		 2020
£
19,750
(2,277)
17,473
(162)
(28,604)
(11,293)
-
2,668
(8,625)

2

Mere Brow and District Institute

Statement of Financial Position

at 31 December 2021

Notes
FIXED ASSETS
Property, plant and equipment
2
CURRENT ASSETS
Receivables
3
Cash and cash equivalents
CURRENT LIABILITIES
4
NET CURRENT LIABILITIES
CREDITORS: DUE AFTER 1 YEAR
5
NET ASSETS
Notes
EQUITY
Retained profit
TOTAL EQUITY		 2021
£
690
(7,228)		 2021
£
466,510		 2020
£
-
(2,093)		 2020
£
445,651
466,510
(45,939)
(13,412)		 445,651
(50,397)
(14,412)
(6,538)
(39,401)		 (2,093)
(48,304)
407,159 380,842
2021
£
407,159		 2020
£
380,842
407,159 380,842

The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993) and that an independent examination is needed.

The trustees acknowledge their responsibilities for preparing financial statements which give a true and fair view.

These financial statements have been prepared in accordance with the The Statement of Recommended Practice (SORP) applicable to charities (FRS102) effective 1 January 2019. In accordance with FRS 102 section 1A part 7 a cashflow statement has not been prepared.

Approved by the Trustees on 21 July 2022. For and on behalf of the Trustees:

......................................................................................... William Hunter (Trustee) ......................................................................................... Warren Hunter (Trustee)

3

Mere Brow and District Institute

Notes to the Filleted Financial Statements

for the year ended 31 December 2021

1 ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard 102 section 1A for small entities (effective January 2015).

Revenue recognition

Revenue represents net invoiced sales of goods, excluding value added tax.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease over the lease term, whichever is the shorter:

Deferred taxation

Provision is made at current rates for taxation deferred in respect of all material timing differences except to the extent that, in the opinion of the directors, there is reasonable probability that the liability will not arise in the foreseeable future.

2 PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT
£ £ £
Furniture, fittings Land and Total
COST tools and equipment buildings
At start of year 155,142 553,986 709,128
Additions 37,496 - 37,496
At end of year 192,638 553,986 746,624
DEPRECIATION
At start of year (103,382) (160,095) (263,477)
Expense for the year (8,537) (8,100) (16,637)
At end of year (111,919) (168,195) (280,114)
NET BOOK VALUE
At end of year 80,719 385,791 466,510
At start of year 51,760 393,891 445,651

Included in land and buildings is land of £148,984 which is held at cost and not depreciated.

4

Mere Brow and District Institute

Notes to the Filleted Financial Statements

for the year ended 31 December 2021

3 RECEIVABLES

RECEIVABLES
Other receivables
Total receivables		 £
£
2021
2020
690
-
690
-

All amounts in the current and preceding year relate to amounts due within 1 year.

4 CURRENT PAYABLES

Trade payables
Accruals and deferred income
VAT
Other payables
Total payables		 £
£
2021
2020
(4,687)
(551)
(3,152)
(2,104)
(78)
(62)
(31,484)
(45,587)
(39,401)
(48,304)

Included in current other payables is a government-backed amortising BBLS loan of £1,000 (non-current payables £8,417). Interest on the loan, initially at cost of £10,000 on 13 May 2020, is at a rate of 2.5% per annum with no interest charged in the first 12 months. Repayment of the loan over 10 years commenced on 14 June 2021.

5 NON CURRENT PAYABLES

Other payables
Total non current payables		 £
£
2021
2020
(13,412)
(14,412)
(13,412)
(14,412)

5

Mere Brow and District Institute

Report of the Independent Examiner

to the Trustees of Mere Brow and District Institute

It is our responsibility to examine the accounts (under section 43 of the Charities Act 1993 (the Act)); and to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and to state whether particular matters have come to our attention.

Our examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the accounts.

You have acknowledged, on the Statement of Financial Position as at 31 December 2021, your duty to ensure that the charity has kept proper accounting records, and prepare financial statements that give a true and fair view. You also consider that the charity is exempt from the statutory requirement for an audit.

In the course of our examination, no matter has come to our attention which gives us reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: proper accounting records are kept (in accordance with section 41 of the Act); and accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

................................................................ My Online Accountant Chartered Accountants 83 Ducie Street Manchester M1 2JQ Date:...........................................21-07-2022

6

Mere Brow and District Institute

Detailed Income Statement (not part of the Financial Statements)

for the year ended 31 December 2021

2021
£
REVENUE
COST OF SALES
Maintenance
(5,966)
Operating lease
(1,510)
Health and safety
(182)
Training
-
Consumables
(242)
Balance write-off
-
GROSS PROFIT
DISTRIBUTION COSTS
ADMINISTRATIVE EXPENSES
Depreciation
(16,637)
Salary/Wages - indirect
(12,107)
Insurance
(2,980)
Heat and light
(4,991)
Licenses
(159)
Miscellaneous costs
(3,296)
Cleaning
(2,608)
Advertising
(2,500)
Other
(5,467)
OPERATING PROFIT/(LOSS)
Finance costs
Other operating income
PROFIT/(LOSS) FOR THE YEAR		 2021
2020
£
£
65,428
(914)
(950)
(175)
(135)
(104)
1
(7,900)
57,528
(384)
(13,883)
-
(3,123)
(1,878)
(2,721)
(496)
(876)
(150)
(5,477)
(50,745)
6,399
(142)
20,070
26,327		 2020
£
19,750
(2,277)
17,473
(162)
(28,604)
(11,293)
-
2,668
(8,625)