||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|5|
|Independent
Examiner's|Report||||
|Statement ofFinancial Activities|||||
|Balance Sheet||8|to|9|
|Cash Flow Statement|||10||
|Notes to the Cash Flow|Statement||||
|Notes to the Financial Statements||12|to|25|
|Detailed Statement ofFinancial Activities||26|to|27|
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||||||31.3.22|31.3.21|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations
and legacies|||565||565|763|
|Other trading activities|||135,022||135,022|100,491|
|Investment
income|||363,534||363,534|346,943|
|Other income|||6,781||6,781|29,111|
|Total|||505,902||505,902|477,308|
|EXPENDITURE ON|||||||
|Raising funds|||47,794||47,794|37,433|
|Charitable
activities|||||||
|Concessionary
rents given|||10,650||10,650|10,466|
|Donations ofequipment||||||4,898|
|Other|||415,048||415,048|428,275|
|Total|||473,492||473,492|481,072|
|Net gains on investments||||6,135|6,135|10,916|
|NET INCOME|||32,410|6,135|38,545|7,152|
|Transfers
between
funds||21|(10,916)|10,916|||
|Other recognised
gains/(losses)|||||||
|Actuarial
gains/(losses)|on defined benefit||||||
|schemes||||||(22,345)|
|Net movement
in funds|||21,494|17,051|38,545|(15,193)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought
forward|||870,271|397,276|1,267,547|1,282,740|
|TOTAL FUNDS CARRIED FORWARD|||891,765|414,327|1,306,092|1,267,547|
##
|||31M|arch 2022||||
|---|---|---|---|---|---|---|
||||||31.3.22|31.3.21|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|||||
|FIXEDASSETS|||||||
|Investments|||||||
|Investments||14||55,511|55,511|48,176|
|Investment
property||15|1,795,704|343,087|2,138,791|2,138,791|
||||1,795,704|398,598|2,194,302|2,186,967|
|CURRENT ASSETS|||||||
|Debtors||16|76,347||76,347|85,374|
|Cash at bank and in hand|||69,313|15,729|85,042|73,258|
||||145,660|15,729|161,389|158,632|
|CREDITORS|||||||
|Amounts
falling due within|one year|17|(252,645)||(252,645)|(214,931)|
|NET CURRENT ASSETS|||(106,985)|15,729|(91,256)|(56,299)|
|TOTAL ASSETSLESSCURRENT|||||||
|LIABILITIES|||1,688,719|414,327|2,103,046|2,130,668|
|CREDITORS|||||||
|Amounts
falling due after more than one year||18|(732,954)||(732,954)|(799,121)|
|PENSION LIABILITY||22|(64,000)||(64,000)|(64,000)|
|NET ASSETS|||891,765|414,327|1,306,092|1,267,547|
|FUNDS||21|||||
|Unrestricted
funds|||||891,765|870,271|
|Restricted
funds|||||414,327|397,276|
|TOTAL FUNDS|||||1,306,092|1,267,547|
##
##
|||||||Cash Flow Statement|||
|---|---|---|---|---|---|---|---|---|
||||||for the|Year Ended 31March|2022||
||||||||31.3.22|31.3.21|
||||||Notes||||
|Cash flows from|operating||activities||||||
|Cash generated
from operations|||||||112,559|(29,516)|
|Interest paid|||||||(35,926)|(33,606)|
|Net cash provided|by/(used||in) operating||activities||76,633|(63,122)|
|Cash flows from|investing||activities||||||
|Purchase offixed|asset investments||||||(1,200)|(1,200)|
|Interest received|||||||7||
|Net cash used in|investing|activities|||||(1,193)|(1,200)|
|Cash flows from|financing||activities||||||
|New loans in year||||||||156,885|
|Loan repayments|in year||||||(63,656)|(80,599)|
|Pension payments||||||||22,345|
|Net cash (used in)/provided|||by financing||activities||(63,656)|98,631|
|Change
in cash and cash||equivalents||in the|||||
|reporting
period|||||||11,784|34,309|
|Cash and cash equivalents|||at the beginning||||||
|ofthe reporting|period||||||73,258|38,949|
|Cash and cash equivalents|||at the end|ofthe|||||
|reporting
period|||||||85,042|73,258|
##
##
|RECONCILIATION|RECONCILIATION|OF NET INCOME TO NET CASH FLOW FROM|OF NET INCOME TO NET CASH FLOW FROM|OPERATING ACTIVITIES|OPERATING ACTIVITIES|
|---|---|---|---|---|---|
|||||31.3.22|31.3.21|
|Net income for the|reporting||period (as per the Statement ofFinancial|||
|Activities)||||38,545|7,152|
|Adjustments
for:||||||
|Gain on investments||||(6,135)|(10,916)|
|Interest received||||(7)||
|Interest paid||||35,926|33,606|
|Decrease/(increase)|in|debtors||9,027|(12,574)|
|Increase/(decrease)|in|creditors||35,203|(46,784)|
|Net cash provided|by/(used||in) operations|112,559|(29,516)|
##
##
|ANALYSIS OF CHAN|GES IN NET DEBT||||
|---|---|---|---|---|
|||At 1.4.21|Cash flow|At 31.3.22|
|Net cash|||||
|Cash at bank and in hand||73,258|11,784|85,042|
|||73,258|11,784|85,042|
|Debt|||||
|Debts falling due within|I year|(67,644)|(2,511)|(70,155)|
|Debts falling due after I|year|(799,121)|66,167|(732,954)|
|||(866,765)|63,656|(803,109)|
|Total||(793,507)|75,440|(718,067)|
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|DONATIONS|AND LEGACIES|||
|---|---|---|---|
|||31.3.22|31.3.21|
|Other income||565|763|
|OTHER TRADING ACTIVITIES||||
|||31.3.22|31.3.21|
|CafU income||26,145|7,453|
|Photocopying|recharge|215|204|
|Other rental income||23,599|16,549|
|Post recharge||9,255|8,057|
|Electricity recharge||24,935|20,376|
|Water recharge||17,500|16,426|
|Insurance
recharge||33,373|31,426|
|||135,022|100,491|
##
|||||Notes to the Financial Statements|Notes to the Financial Statements|- continued|||
|---|---|---|---|---|---|---|---|---|
||||||for the Year Ended 31March|2022|||
|4.|INVESTMENT INCOME||||||||
||||||||31.3.22|31.3.21|
||Rents received||||||363,527|346,943|
||Deposit account interest||||||7||
||||||||363,534|346,943|
|5.|RAISING FUNDS||||||||
||Other trading|activities|||||||
||||||||31.3.22|31.3.21|
||Purchases||||||12,756|4,073|
||Staffcosts||||||29,035|33,360|
||Support costs||||||6,003||
||||||||47,794|37,433|
|6.|CHARITABLE A.CTIVITIES COSTS||||||||
|||||||||Grant|
|||||||||funding of|
|||||||||activities|
|||||||||(see note|
|||||||||7)|
||Concessionary|rents given||||||10,650|
|7.|GRANTSPAYABLE||||||||
||||||||31.3.22|31.3.21|
||Concessionary|rents given|||||10,650|10,466|
||The total grants|paid to|institutions||during the year was as follows:||||
||||||||31.3.22|31.3.21|
||Start up concessionary||rents|given|||10,650|10,466|
##
|fo|r the Year Ended 31March|2022|||
|---|---|---|---|---|
|SUPPORT COSTS|||Governance||
||Management|Finance|costs|Totals|
|Other trading activities|6,003|||6,003|
|Other resources expended|410,714|1,789|2,545|415,048|
||416,717|1,789|2,545|421,051|
##
##
##
|||||||31.3.22|31.3.21|
|---|---|---|---|---|---|---|---|
||Other operating
leases|||||8,691|5,669|
||Covid Job Retention
Scheme||||||29,111|
||Independent
examiner's|fee||||2,500|2,700|
|11.|TRUSTEES' REMUNERATION|||AND BENEFITS||||
|||||||31.3.22|31.3.21|
||Trustees'
salaries|||||52,620|53,003|
||Trustees'
social security|||||3,827|3,770|
||Trustees'
pension contributions||to|money purchase|schemes|3,093|2,988|
|||||||59,540|59,761|
##
##
##
##
|STAFF COSTS|||||
|---|---|---|---|---|
||||31.3.22|31.3.21|
|Wages and salaries|||]05,531|109,406|
|Social security costs|||6,197|6,299|
|Other pension costs|||5,006|4,964|
||||116,734|120,669|
|The average monthly|number ofemployees|during the year was as follows:|||
||||31.3.22|31.3.21|
|Management|||1|1|
|Administrative|||1|1|
|Cafe staff|||2|2|
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Fixtures|||
||and|Computer||
||fittings|equipment|Totals|
|COST||||
|At 1 April 2021 and 31March 2022|10,337|14,589|24,926|
|DEPRECIATION||||
|At 1 April 2021 and 31March 2022|10,337|14,589|24,926|
|NET BOOKVALUE||||
|At 31March 2022||||
|At 31March 2021||||
##
||Notes to the Finan
for the Year|Notes to the Finan
for the Year|cial Statements
-continued
Ended 31March 2022||
|---|---|---|---|---|
|14.|FIXED A.SSETINVESTMENTS||||
|||||Unlisted|
|||||investments|
||MARKET VALUE||||
||At I April 2021|||48,176|
||Additions|||1,200|
||Revaluations|||6,135|
||At 31March 2022|||55,511|
||NET BOOKVALUE||||
||At 31 March 2022|||55,511|
||At 31 March 2021|||48,176|
||There were no investment|assets outside the UK.|||
||Cost or valuation
at 31March 2022 is represented||by:||
|||||Unlisted|
|||||investments|
||Valuation
in 2022|||55,511|
|15.|INVESTMENT PROPERTY||||
||FAIR VALUE||||
||At I April 2021||||
||and 31March 2022|||2,138,791|
||NET BOOKVALUE||||
||At 31 March 2022|||2,138,791|
||At 31 March 2021|||2,138,791|
##
|||Notes to the Financial Statements
- continued
for the Year Ended 31March 2022|Notes to the Financial Statements
- continued
for the Year Ended 31March 2022||||
|---|---|---|---|---|---|---|
|16.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEA.R|||||
||||||31.3.22|31.3.21|
||Trade debtors||||32,662|35,089|
||Prepayments
and accrued|income|||43,685|50,285|
||||||76,347|85,374|
|17.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE||YEAR||||
||||||31.3.22|31.3.21|
||Bank loans and overdrafts|(see note 19)|||70,155|67,644|
||Trade creditors||||93,084|63,706|
||Social security and other taxes||||3,624|717|
||VAT||||14,374|15,531|
||Other creditors||||44,280|42,075|
||Accruals and deferred income||||27,128|25,258|
||||||252,645|214,931|
|18.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE||THAN ONE|YEAR|||
||||||31.3.22|31.3.21|
||Bank loans (see note 19)||||732,954|799,121|
||The bank loan carries interest at 3.00%above base and is charged||on a monthly|basis.|||
|19.|LOANS||||||
||An analysis ofthe maturity|ofloans is given below:|||||
||||||31.3.22|31.3.21|
||Amounts
falling due within|one year on demand:|||||
||Bank!oans||||70,155|67,644|
||Amounts
falling between one and two years:||||||
||Bank loans - 1-2years||||72,311|70,157|
||Amounts
falling due between two and five years:||||||
||Bank loans - 2-5 years||||281,057|223,739|
||Amounts
falling due in more than five years:||||||
||Repayable
by instalments:||||||
||Bank loans more 5 yr by instal||||379,586|505,225|
##
##
|||31.3.22|31.3.21|
|---|---|---|---|
|Bank|loans|803,109|866,765|
##
##
|MOVE|MEN|T IN FUNDS|||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.4.21|in funds|funds|31.3.22|
|Unrestricted||funds|||||
|General|fund||870,271|32,410|(10,916)|891,765|
|Restricted funds|||||||
|Capital|fund||356,342|||356,342|
|Training|fund||40,934|6,135|10,916|57,985|
||||397,276|6,135|10,916|414,327|
|TOTALFUNDS|||1,267,547|38,545||1,306,092|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||505,902|(473,492)||32,410|
|Restricted funds|||||||
|Training|fund||||6,135|6,135|
|TOTAL|FUNDS||505,902|(473,492)|6,135|38,545|
##
##
##
##
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 1.4.20|in funds|31.3.21|
|Unrestricted|funds||||
|General
fund||885,464|(15,193)|870,271|
|Restricted funds|||||
|Capital fund||356,342||356,342|
|Training
fund||40,934||40,934|
|||397,276||397,276|
|TOTAL FUNDS||1,282,740|(15,193)|1,267,547|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||477,308|(481,072)|(11,429)|(15,193)|
|TOTAL|FUNDS||477,308|(481,072)|(11,429)|(15,193)|
||||Net|Transfers||
|---|---|---|---|---|---|
||||movement|between|At|
|||At 1.4.20|in funds|funds|31.3.22|
|Unrestricted|funds|||||
|General
fund||885,464|17,217|(10,916)|891,765|
|Restricted funds||||||
|Capital fund||356,342|||356,342|
|Training
fund||40,934|6,135|10,916|57,985|
|||397,276|6,135|10,916|414,327|
|TOTAL FUNDS||1,282,740|23,352||1,306,092|
##
##
##
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||983,210|(954,564)|(11,429)|17,217|
|Restricted funds|||||||
|Training|fund||||6,135|6,135|
|TOTAL|FUNDS||983,210|(954,564)|(5,294)|23,352|
##
##
|Assumptions|||
|---|---|---|
||July 2020|July 2017|
|Asset Value|Market Value|Market Value|
|Pre retirement
discount rate|2.6%|3.9%|
|Post retirement
discount rate|0.6%|1.9%|
|Retail price inflation|2.8%|2.7%|
|Consumer
price inflation|2.3%|2.2%|
|Pension increases
in payments|3%|3%|
|Pension revaluation
in deferment|2.3%|2.2%|
##
|Funds at Market Value||114,000|
|---|---|---|
|Net current assets||6,000|
|Total||120000|
||Page 23|continued. ..|
##
##
|Technical|provisions|
|---|---|
|Deferred|Pensioners|
|Pensioners||
|Surplus
/|(Deficit)|
|Funding|Level|
|Deferred|Pensioners||||||65,000|
|---|---|---|---|---|---|---|---|
|Pensioners|||||||119,000|
|Surplus|/ (Deficit)||||||(64000)|
|Funding|Level||||||65%|
|Analysis|ofthe movement||in|the|benefit net asset during the period|||
||||||||E000s|
|Surplus|/ (shortfall)|at previous||valuation|||(42)|
|Interest|on surplus/shortfall||brought||forward||(3)|
|Investment
out performance|||||||3|
|Contributions|||||||9|
|Cash commutation|||||||4|
|ARP write off|||||||3|
|Change|in market conditions||||||(39)|
|Change|to SFP||||||I|
|Surplus|/ (shortfall)|at present||valuation||on sample assumption|64.0|
##
##
##
##
##
##
##
||Detailed Statement ofFinancial Activities|||
|---|---|---|---|
||for the Year Ended 31March 2022|||
|||31.3.22|31.3.21|
|INCOME AND ENDOWMENTS||||
|Donations
and legacies||||
|Other income||565|763|
|Other trading
activities||||
|CafU income||26,145|7,453|
|Photocopying
recharge||215|204|
|Other rental income||23,599|16,549|
|Post recharge||9,255|8,057|
|Electricity recharge||24,935|20,376|
|Water recharge||17,500|16,426|
|Insurance
recharge||33,373|31,426|
|||135,022|100,491|
|Investment
income||||
|Rents received||363,527|346,943|
|Deposit account interest||7||
|||363,534|346,943|
|Other income||||
|Job retention
scheme income||6,781|29,111|
|Total incoming resources||505,902|477,308|
|EXPENDITURE||||
|Other trading
activities||||
|CafU —food costs||12,756|4,073|
|Wages||27,696|31,637|
|Social security||923|1,200|
|Pensions||416|523|
|||41,791|37,433|
|Charitable
activities||||
|Donations|||4,898|
|Grants to institutions||10,650|10,466|
|||10,650|15,364|
##
##
||||Detailed Statement ofFinancial Activities|||
|---|---|---|---|---|---|
||||for the Year Ended 31March 2022|||
|||||31.3.22|31.3.21|
|Support costs||||||
|Management||||||
|Trustees' salaries||||52,620|53,003|
|Trustees' social security||||3,827|3,770|
|Trustees' pension contributions||||3,093|2,988|
|Trustees'
expenses||||1,035||
|Wages||||25,215|24,766|
|Social security||||1,447|1,329|
|Pensions||||1,497|1,453|
|Other operating
leases||||8,691|5,669|
|Rates and water||||33,452|46,377|
|Insurance||||16,147|15,518|
|Light and heat||||70,545|60,881|
|Telephone||||1,419|1,251|
|Postage and stationery||||11,465|10,484|
|Advertising||||847|1,405|
|Repairs and maintenance||||67,300|53,753|
|Cleaning||||24,324|19,778|
|Bad debt write-off||||39,867|9,090|
|Bank loan interest||||25,803|25,462|
|Pension Fund fees||||10,123|8,144|
|Exceptional
items||||18,000|77,774|
|||||416,717|422,895|
|Finance||||||
|Bank charges||||1,789|2,622|
|Governance
costs||||||
|Independent
examiners||fee||2,500|2,700|
|Legal fees||||45|58|
|||||2,545|2,758|
|Total resources expended||||473,492|481,072|
|Net income/(expenditure)||before gains|and|||
|losses||||32,410|(3,764)|
|Realised recognised|gains and losses|||||
|Realised gains/(losses)|on|fixed asset investments||6,135|10,916|
|Net income||||38,545|7,152|