CHARITY REGISTRATION NUMBER: 506592
St Michael's Community Centre Unaudited Financial Statements
31 March 2023
CS ACCOUNTING LIMITED
5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
St Michael's Community Centre
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
| Notes to the detailed statement of financial activities | 15 |
St Michael's Community Centre
Trustees' Annual Report
Year ended 31 March 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name St Michael's Community Centre Charity registration number 506592 Principal office Stannington Grove Grangetown Sunderland Tyne and Wear The trustees Ms J Robson Ms S Ferguson Ms EA McEvoy Independent examiner C Smith CS Accounting Limited 5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
1
St Michael's Community Centre
Trustees' Annual Report (continued)
Year ended 31 March 2023
Objectives and Activities
St Michael's Community Centre is a voluntary sector project with charitable status operating in St Michael's Ward. The Community Centre and its facilities are open and available to everyone in our community. More recently, the Community Centre has established itself as the Local Community Hub.
Achievements and performance
This year we have continued to make changes and improvements to the facilities of the Community Centre. These improvements from grant funding received from Empower and BREEZ included installation of new LED Lighting throughout the Centre, installation of an efficient gas boiler system and Nest Controls, and replacement of single glazed windows with new double-glazed units. The improved facilities have attracted new service users and groups, expanding the breadth of our service delivery. We will continue to improve and adapt our facilities to encourage new groups and users, which will improve the wellbeing of people living within the area of benefit. We have continued to develop positive relationships with agencies, schools, partners, and groups. These include Sunderland City Council, Sunderland Voluntary Alliance, The Good Things Foundation, Gentoo, Age Concern, Community Connectors, and many local VCS Groups by attending monthly VCS meetings, some of which held were at the Community Centre. In partnership with Blue Watch Youth Centre, in addition to our regular weekly activities, young people have been able to access specialised support for mental health through the Good Vibes project supported by The Sunderland All Together Consortium. One of our new partnerships with Sunderland City Council supported the delivery of the Warm Spaces initiative. Residents attended 3 weekly drop-in sessions where they participated in activities including access to computers and internet, tabletop, and board games, received benefits and financial advice, expanded their social networks, as well as enjoying refreshments and hot food. With another of our partners, Red Sky Foundation, we secured funding to install a defibrillator. We delivered First Aid Awareness Courses and FAA Level 3 Emergency First Aid at Work Certificated Courses. Local groups and residents attended the courses with positive feedback from participants saying they found the Courses informative and interactive, raising their confidence through their participation. We supported 15 volunteers who give up their time to help the Community Centre provide a range of services, such as Go Online, Household Support, Cost of Living Support, Warm Spaces and Holiday and Weekend activities for local children and young people.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Ms EA McEvoy Trustee
2
St Michael's Community Centre
Independent Examiner's Report to the Trustees of St Michael's Community Centre
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of St Michael's Community Centre ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
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 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:
-
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 accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
C Smith Independent Examiner 5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
3
St Michael's Community Centre
Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 13,359 |
31,986 | 45,345 | 11,726 |
| Investment income | 5 | 29 |
– | 29 | 1 |
| ------------------------------ | ------------------------------ | ------------------------------ | ------------------------------ | ||
| Total income | 13,388 | 31,986 | 45,374 | 11,727 | |
| ============================== | ============================== | ============================== | ============================== | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 |
5,460 |
26,379 | 31,839 | 20,508 |
| ------------------------------ | ------------------------------ | ------------------------------ | ------------------------------ | ||
| Total expenditure | 5,460 | 26,379 | 31,839 | 20,508 | |
| ============================== | ============================== | ============================== | ============================== | ||
| ------------------------------ | ------------------------------ | ------------------------------ | ------------------------------ | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 7,928 | 5,607 | 13,535 | (8,781) | |
| ============================== | ============================== | ============================== | ============================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 27,876 | – | 27,876 | 36,657 | |
| ------------------------------ | ------------------------------ | ------------------------------ | ------------------------------ | ||
| Total funds carried forward | 35,804 | 5,607 | 41,411 | 27,876 | |
| ============================== | ============================== | ============================== | ============================== |
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 7 to 12 form part of these financial statements.
4
St Michael's Community Centre
Statement of Financial Position
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 45,710 | 28,296 | |
| Creditors: amounts falling due within one year | 11 | 4,299 | 420 |
| ------------------------------ | ------------------------------ | ||
| Net current assets | 41,411 | 27,876 | |
| ------------------------------ | ------------------------------ | ||
| Total assets less current liabilities | 41,411 | 27,876 | |
| ------------------------------ | ------------------------------ | ||
| Net assets | 41,411 | 27,876 | |
| ============================== | ============================== | ||
| Funds of the charity | |||
| Restricted funds | 5,607 | – | |
| Unrestricted funds | 35,804 | 27,876 | |
| ------------------------------ | ------------------------------ | ||
| Total charity funds | 13 | 41,411 | 27,876 |
| ============================== | ============================== |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Ms EA McEvoy Trustee
The notes on pages 7 to 12 form part of these financial statements.
5
St Michael's Community Centre
Statement of Cash Flows
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 13,535 | (8,781) |
| Adjustments for: | ||
| Other interest receivable and similar income | (29) | (1) |
| Accrued expenses | 129 | 420 |
| Changes in: | ||
| Trade and other creditors | 3,750 | – |
| ------------------------------ | ------------------------- | |
| Cash generated from operations | 17,385 | (8,362) |
| Interest received | 29 | 1 |
| ------------------------------ | ------------------------- | |
| Net cash from/(used in) operating activities | 17,414 | (8,361) |
| ============================== | ========================= | |
| Net increase/(decrease) in cash and cash equivalents | 17,414 | (8,361) |
| Cash and cash equivalents at beginning of year | 28,296 | 36,657 |
| ------------------------------ | ------------------------------ | |
| Cash and cash equivalents at end of year | 45,710 | 28,296 |
| ============================== | ============================== |
The notes on pages 7 to 12 form part of these financial statements.
6
St Michael's Community Centre
Notes to the Financial Statements (continued)
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Stannington Grove, Grangetown, Sunderland, SR2 9JT.
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 Charities Act 2011.
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.
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.
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
7
St Michael's Community Centre
Notes to the Financial Statements (continued)
Year ended 31 March 2023
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.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in
fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
8
St Michael's Community Centre
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Room Hire | 13,047 | – | 13,047 |
| Grants | |||
| Grants | 312 | 31,986 | 32,298 |
| British Gas Refund | – | – | – |
| ------------------------------ | ------------------------------ | ------------------------------ | |
| 13,359 | 31,986 | 45,345 | |
| ============================== | ============================== | ============================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Room Hire | 2,222 | – | 2,222 |
| Grants | |||
| Grants | 6,744 | – | 6,744 |
| British Gas Refund | 2,760 | – | 2,760 |
| ------------------------------ | --------------- | ------------------------------ | |
| 11,726 | – | 11,726 | |
| ============================== | =============== | ============================== |
9
St Michael's Community Centre
Notes to the Financial Statements (continued)
Year ended 31 March 2023
5. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest | 29 | 29 | 1 | 1 |
| =============== | =============== | =============== | =============== | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Direct costs | 138 | 12,707 | 13,171 | |
| Support costs | 5,322 | 13,672 | 18,668 | |
| ------------------------- | ------------------------------ | ------------------------------ | ||
| 5,460 | 26,379 | 31,839 | ||
| ========================= | ============================== | ============================== |
6. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Direct costs | – | – | – | |
| Support costs | 20,508 | – | 20,508 | |
| ------------------------------ | --------------- | ------------------------------ | ||
| 20,508 | – | 20,508 | ||
| ============================== | =============== | ============================== | ||
| Expenditure on charitable activities by activity type | ||||
| Activities | ||||
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Charitable activity | 12,845 | 18,994 | 31,839 | 20,508 |
| ============================== | ============================== | ============================== | ============================== | |
| Independent examination fees | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable to the independent | examiner for: | |||
| Independent examination of the financial statements | 420 | 420 | ||
| =============== | =============== |
7. Expenditure on charitable activities by activity type
8. Independent examination fees
9. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
10
St Michael's Community Centre
Notes to the Financial Statements (continued)
Year ended 31 March 2023
10. Trustee remuneration and expenses
- No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
11. Creditors: amounts falling due within one year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Accruals and deferred income | 4,299 | 420 | |
| ========================= | =============== | ||
| 12. | Deferred income | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Amount deferred in year | 3,750 | – | |
| ========================= | =============== |
11
St Michael's Community Centre
Notes to the Financial Statements (continued)
Year ended 31 March 2023
13. Analysis of charitable funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 April 2022 | Income | Expenditure | 31 Mar | 2023 | ||
| £ | £ | £ | £ | |||
| General funds | 27,876 | 13,388 | (5,460) | 35,804 |
||
| ============================== | ============================== | ========================= | ============================== | |||
| At | At | |||||
| 1 April 2021 | Income | Expenditure | 31 Mar | 2022 | ||
| £ | £ | £ | £ | |||
| General funds | 36,657 | 11,727 | (20,508) | 27,876 |
||
| ============================== | ============================== | ============================== | ============================== | |||
| Restricted funds | ||||||
| At | At | |||||
| 1 April 2022 | Income | Expenditure | 31 Mar | 2023 | ||
| £ | £ | £ | £ | |||
| Restricted Fund | – | 31,986 | (26,379) | 5,607 |
||
| =============== | ============================== | ============================== | ========================= | |||
| At | At | |||||
| 1 April 2021 | Income | Expenditure | 31 Mar | 2022 | ||
| £ | £ | £ | £ | |||
| Restricted Fund | – | – | – | – | ||
| =============== | =============== | =============== | =============== | |||
| 14. | Analysis of changes in net debt | |||||
| At | At | |||||
| 1 Apr 2022 | Cash flows | 31 Mar | 2023 | |||
| £ | £ | £ | ||||
| Cash at bank and in hand | 28,296 | 17,414 | 45,710 | |||
| ============================== | ============================== | ============================== |
12
St Michael's Community Centre
Management Information
Year ended 31 March 2023
The following pages do not form part of the financial statements.
13
St Michael's Community Centre
Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Room Hire | 13,047 | 2,222 |
| Grants | 32,298 | 6,744 |
| British Gas Refund | – | 2,760 |
| ------------------------------ | ------------------------------ | |
| 45,345 | 11,726 | |
| ------------------------------ | ------------------------------ | |
| Investment income | ||
| Bank interest | 29 | 1 |
| --------------- | --------------- | |
| ------------------------------ | ------------------------------ | |
| Total income | 45,374 | 11,727 |
| ============================== | ============================== | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Rates and water | 1,151 | 2,521 |
| Light and heat | 1,552 | 1,799 |
| Refurbishment, repairs and maintenance | 13,672 | 13,459 |
| Insurance | 326 | 552 |
| Other motor/travel costs | – | 500 |
| Legal and professional fees | 420 | 828 |
| Telephone | 590 | 159 |
| Other office costs | 355 | 690 |
| Building and programme costs | 9,369 | – |
| Equipment | 3,476 | – |
| Training and governance | 413 | - |
| Licences | 515 | - |
| ------------------------------ | ------------------------------ | |
| 31,839 | 20,508 | |
| ------------------------------ | ------------------------------ | |
| ------------------------------ | ------------------------------ | |
| Total expenditure | 31,839 | 20,508 |
| ============================== | ============================== | |
| ------------------------------ | ------------------------------ | |
| Net income/(expenditure) | 13,535 | (8,781) |
| ============================== | ============================== |
14
St Michael's Community Centre
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Activities undertaken directly | ||
| Building & Programme Costs | 9,369 | – |
| Equipment | 3,476 | – |
| ------------------------------ | --------------- | |
| 12,845 | – | |
| ------------------------------ | --------------- | |
| Support costs | ||
| Rates & water | 1,151 | 2,521 |
| Light & heat | 1,552 | 1,799 |
| Refurbishment, repairs & maintenance | 13,672 | 13,459 |
| Insurance | 326 | 552 |
| Travel costs | – | 500 |
| Legal and professional fees | 420 | 828 |
| Telephone | 590 | 159 |
| Other office costs | 355 | 690 |
| Training | 413 | – |
| Licenses | 515 | – |
| ------------------------------ | ------------------------------ | |
| 18,994 | 20,508 | |
| ------------------------------ | ------------------------------ | |
| ------------------------------ | ------------------------------ | |
| Expenditure on charitable activities | 31,839 | 20,508 |
| ============================== | ============================== |
15