Helping people to help themselves and each other
Trustees’ Report and
Financial Statements for
the year ended 31 December 2020
Registered Charity No. 518451 and Company No. 02048091
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
| Contents Annual Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements |
Page No. 2 to 11 12 13 14 to 15 16 to 28 |
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.
INTRODUCTION
As a multi-purpose ‘community anchor’ charity, most of the needs to be addressed arise from the isolated rural nature of the charity’s area of operation. It is very sparsely populated with only 25,000 inhabitants: half in Whitby town and half scattered across several hundred square miles of the northern half of the North York Moors National Park, around the Esk valley. There are no
remaining local bus services in much of the National Park area served, compounding the usual rural difficulties of access to education, work and services. Over a third of all residents are age 60 or above and a third of households have a single occupant. A high proportion of the community is at significant risk of social exclusion.
The Whitby travel-to-work area is characterised by high levels of self-employment; one-person businesses; working from or at home; and a few small employers. The existing enterprise profile is unlikely to generate significant job growth. In comparison with national and regional averages, the area served has a high proportion of the working age population with no or few educational qualifications; and a high proportion of low income households. The very strong demand for second / holiday homes in the area, together with very limited new housing development within the National Park, results in severe problems of housing affordability and availability.
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES - CONTINUED
HISTORY OF THE CHARITY
Mission: “ Helping people to help themselves and each other ”
Originally known as Whitby Network, the charity has been serving the local community since 1984, starting with an Advice Centre and evolving to meet a wide range of community needs. In 1998 it purchased the redundant Coliseum cinema building, which is centrally situated next to the bus and train stations in Whitby. The Coliseum was converted to a community centre, which also incorporates self-contained residential accommodation for adults with learning difficulties. The Coliseum Centre offers a variety of high quality office space, meeting, lecture and assembly rooms, together with the community café, theatre, and internet cafe.
The charity became the Whitby Area Development Trust in 2011, when Whitby Network merged with the Whitby Area Community Development Trust, a company limited by guarantee formed in 2007. The Community Development Trust had a greater focus on environmental and sustainability issues across the Whitby Area and a wider community involvement from the rural areas. Accordingly, the merged charity secured the approval of the Charity Commission, to adopt new objects covering rural and urban regeneration.
“The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation (and in particular in the Whitby district and surrounding area) by all or any of the following means:
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a) the relief of financial hardship;
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b) the relief of unemployment;
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c) the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;
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d) the creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms;
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e) the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing;
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f) the maintenance, improvement or provision of public amenities;
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g) the preservation of buildings or sites of historic or architectural importance;
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h) the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities;
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i) the protection or conservation of the environment;
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j) the provision of public health facilities and childcare:
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k) such other means as may from time to time be determined by the trustees.”
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES - CONTINUED
OBJECTIVES AND ACTIVITIES DURING THE YEAR
The financial results for 2020 are remarkably healthy, despite the impact of the Covid-19 pandemic. Public events and activities in the Coliseum Centre largely ceased from March 2020.
The financial position was eased by the final repayment in June 2020 of the £200,000 loan incurred to develop the Penthouse accommodation. The charity also continued to receive rental income from our residential tenants in the Penthouse and Crows Nest supported-living accommodation.
Thus, the charity was in the fortunate position of being able to retain all staff on full salary throughout the year, by ‘topping- up’ the Government’s furlough scheme during periods of lockdown.
Several trends had been noted, before the Covid pandemic:
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a) Falling income from letting office accommodation to other not-for-profit organisations serving the local community.
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Cut-backs in funding for community and social services had led to reductions in outreach provision. Face-to-face services were being replaced by telephone help-line or on-line services. Trustees had costed the conversion of further office space into one or more self-contained residential apartments, to meet the same local needs as the Crows Nest.
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b) Falling income from the Network shop (Recycling).
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The Landfill Tax Credit scheme offered by NYCC was discontinued. More significantly, many households were disposing of unwanted furniture and goods via on-line auction sites and car boot sales, leading to a fall in items donated to the shop.
Trustees will be reviewing the future development strategy in the light of these trends, together with the likely societal changes resulting from the pandemic. We anticipate that the increase in working from home and reductions in city centre office provision will result in greater demand for session-hire office/meeting rooms, suitably equipped to facilitate remote (Zoom) meetings.
Meanwhile, the Trust will continue to contribute research papers to local government policy consultations, to ensure that particular issues affecting the Whitby area are given full consideration. The re-organisation of local government in North Yorkshire during 2022-23 is expected to bring significant change. The Trust will support campaigns to ensure that local needs are fully represented and thus recognised by the relevant statutory authorities, particularly in relation to housing, mental health services, and hospital services.
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES – CONTINUED
Review of the Charity’s Usual Areas of Activity
A) Coliseum Services
The Coliseum Centre may be compared to a village hall on a larger scale. Located in the town centre, adjacent to the bus and train stations, it offers a wide range of services to the local community, from basic travel information to IT courses, or just a space to meet up for coffee. Fully-serviced office space and meeting rooms are available on a session hire basis. The events programme provides opportunities for everyone in the community to enjoy a wide variety of creative activities, as audience member or participant. A grant of £1,000 from the NYCC Stronger Communities Fund helped to provide social activities for the elderly.
The theatre is used for various community events, photographic exhibitions, visiting professional dance and theatre companies, school proms and other amateur musical events. The theatre venue also hosts the monthly meetings of the local Civic Society, Film Club, and Art Society. Our staff provide a licensed café-bar for evening events, when appropriate.
B) Tenancies
• Community Café
The Community Café is operated during the day by Dalewood Trust, who offer work-based activities for people with learning difficulties. They cater for users of the building and the wider local community, by offering meals and snacks at reasonable prices.
• Office Accommodation
The Whitby community is often served on an out-reach basis from larger towns, by other charities or not-for-profit organisations. To facilitate such services, the Coliseum Centre leases fully-serviced office space to not-for-profit organisations whose aims support our own. Tenants may also session-hire the theatre or larger rooms for occasional use.
- Residential Accommodation:
The Penthouse provides residential accommodation within the building for up to nine adults with learning difficulties and, in some cases, mental health problems. Creative Support, an industrial and provident society, provides the 24-hour support needed by our Penthouse tenants. As their landlord, we encourage and welcome our tenants to participate in the social, cultural and educational opportunities on offer in the Coliseum Centre and wider area. The Crows Nest provides a self-contained flat in the Coliseum building, converted from under-used attic space with the aid of a loan from Quaker Housing Trust. It comprises two bedrooms, each en-suite, plus a kitchen and open-plan living/dining area (with rather spectacular views of Whitby Abbey and harbour, hence the name Crows Nest).
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES – CONTINUED
The Crows Nest was developed to meet the need for some ‘training’ accommodation in Whitby: to assist dependent individuals who have the potential, but lack some of the necessary skills and confidence to move directly to independent living in the accommodation offered by RSLs. Locally, this often occurs when parents become unable, through age or infirmity, to continue to provide care in the family home for their child with learning difficulties. By now middle-aged, these individuals often have a very restricted social network and lack confidence in managing without parental support. It is anticipated that the level of support required will gradually diminish, as tenants grow in skill and confidence. At the same time they are encouraged to develop a wider social network, through new friends in the Penthouse, and by participating in activities in the Coliseum Centre and other organisations in the town.
C) Recycling Services
The Network Shop is situated in Whitby town centre and sells donated items of used furniture and household items. It differs from most charity shops in that it is not intended as a fund-raising activity, but as a charitable activity. It relieves financial hardship by assisting lowincome families to meet their household needs at low cost and safely. All upholstered items must bear Fire Safety regulation labels and all electrical goods are PAT tested before sale.
The service also helps to safeguard the environment. The area served has a high proportion of self-catering holiday accommodation, which is frequently refurbished to maintain its market appeal. Many discarded household items, still in good condition, would otherwise be sent to landfill. Unfortunately, the NYCC Landfill Tax Credit scheme has been withdrawn, leading to a loss of income to support the service.
The shop aids social inclusion and provides training towards employment opportunities. It is staffed by volunteers, some of whom have issues which prevent them from securing paid employment. By acquiring customer service skills and basic stock recording – plus a good attendance record – some shop volunteers are helped to progress to paid employment. Others derive on-going benefit from the dignity, social contact, feeling of self-worth and selfrespect gained by being a valued member of the shop’s team of volunteers.
D) Larpool Walled Garden
This project, currently under development, will create environmentally-sustainable, outdoor work opportunities for disadvantaged groups. Grant funding was received during 2018, from the North Yorkshire County Council Stronger Communities fund, to provide a composting WC. Once that essential facility was installed, volunteers had started on the clearance work and the planting of fruit trees. The Normanby Trust kindly provided a grant towards the purchase of equipment, supplies and activities.
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES – CONTINUED
The U3A gardening group were also offering volunteer support. Unfortunately, all such plans have had to be shelved for the time being. Further funding will still need to be found for the renovation of the derelict outbuildings in the Walled Garden, which will provide equipment stores and an indoor shelter/meal room for the user groups.
The project aim is to provide a safe and supportive environment for adults with disabilities or special educational needs, in which they will gain a variety of horticultural skills; have exposure to a work ethic which they may not have had a chance to experience; and learn skills that will engender confidence of working in a team. Such skills and experience may improve paid employment prospects and the ability to live more independently.
CHARITY STRUCTURE, GOVERNANCE AND MANAGEMENT
Name: The name of the organisation became the Whitby Area Development Trust on 16th March 2011. It was formed by merger of the Whitby Resource Centre, a registered charity (known under the name “Whitby Network”) with the Whitby Area Community Development Trust, a private company limited by guarantee.
Legal Status: The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006 . The charity became a private company limited by guarantee ( Company number 02048091 ) (England & Wales) on 9 August 1986 and was registered with the Charity Commission ( Charity no. 518451 ) on 12 February 1987.
Principal Address & Registered Office : The Coliseum Centre, Victoria Place, Whitby. North Yorkshire. YO21 1EZ
Governing
Documents : Memorandum and Articles of Association incorporated 9th August 1986, as amended by special resolutions passed on the 23[rd] October 2009 and 16[th] December 2010. Charity and company name amended by Certificate of Incorporation issued 16[th ] March 2011.
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES - CONTINUED
Organisation: Day-to-day management of the charity is delegated to Susan Hudson , the Coliseum Manager, who is the Chief Executive Officer and Company Secretary.
The organisation is independent of any other charity or organisation and has no branches. It retains a wholly-owned subsidiary trading company which has been dormant since 2003. The charity rents shop premises in Whitby and owns the
freehold of the Coliseum Centre building, which provides office, residential and community space. Serviced office space in the Coliseum Centre is available for rent by not-for-profit organisations whose activities promote and complement
Independent
Examiner: Nigel Clemit ACA, FCCA JWPCreers LLP Chartered Accountants Genesis 5 Church Lane Heslington York YO10 5DQ
Bankers: Unity Trust Bank plc. Nine Brindleyplace, Birmingham. B1 2HB
VAT registration: Registration No: 602231600
The Board of Trustees:
Leslie Overton (Chair) Niall Carson (Deputy Chair) Susan Boyce (Treasurer) John McEachen Ian Donald (resigned March 2021)
Sir Frederic Strickland- Constable and Leslie Overton are the trustees due to retire by rotation at the AGM, in accordance with the Articles of Association.
Company Secretary: Susan Hudson, appointed 01.06.06
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES - CONTINUED
Key Management
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Personnel: The charities’ key management personnel consist of the Trustees & Company Secretary.
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Trustee Meetings: There were 3 full Trustee meetings during 2020.
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Trustee Selection: Recruitment and appointment of new trustees: the Board identifies specific skill or representation gaps in the current board, then attempts to fill them from the local community by word of mouth; by inviting Coliseum Centre users to register such an interest; and by advertising in the newsletter of Community First Yorkshire. After eligibility checks, potential Trustees attend as non-voters for several meetings before being invited to stand for election on a vote of the existing Trustees.
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Trustee Training: New trustees are provided with an induction pack, which includes job descriptions of the various trustee roles and Charity Commission publications on the Duties of Trustees, etc. Trustees are expected to attend training courses and other training events offered locally by Community First Yorkshire and regionally by Locality (formerly bassac).
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VOLUNTEERS
The ethos of this charity is to encourage and support people to recognise that everyone has a valuable contribution to make to their own community. A very high proportion of our work is undertaken by volunteers, who are people of all ages, from all walks of life, and with all levels of physical and mental abilities. Our staff, trustees and professional advisors also contribute significant voluntary effort.
We thank each and every one of our supporters
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
ANNUAL REPORT OF THE TRUSTEES – CONTINUED
PUBLIC BENEFIT STATEMENT
The Trustees confirm that they have complied with the duty to have due regard to public benefit guidance published by the Charity Commission when reviewing the Trust’s aims and objectives and in planning future activities.
FINANCIAL REVIEW AND RISK MANAGEMENT
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Policy on Reserves and Investments The charity has no investments but its general fund is now equivalent to 3 to 6 months’ normal operating expenditure, which should safeguard its continued operation. Current free reserves amount to £97,775 (2019:£42,511)
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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.
Trustees consider that the on-going Covid pandemic poses the most significant risk to the charity, given that the Coliseum Centre is a public venue and a very high proportion of our users are elderly. Most of our residential tenants are vulnerable adults requiring 24-hour attended care. Health & Safety precautions are top priority for the foreseeable future.
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Trustees, Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091 Develoi)ii?ei?t Ti-(Ist ANNUAL REPORT OF THE TRUSTEES- CONTINUED TRUSTEES. RESPONSIBILITIES The trustees (who are also director5 of Whitby Area Development Trust for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance wrth applicable law and United Klngdom Accountlng Standard5 Iunited Kingdom Generally Accepted Accounting Practice). Company law require5 the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the rharitable company for that period. In preparing these financial statements, the trustees are requlred to- select suitable accounting policies and then apply them con515tently,' observe the methods and principles in the Charities SORP 2019 IFRS 1021,- make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financlal statements on the going concern basls unless it is inappropriate to presume that the charitable company will continue In operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charltable company and enable them to ensure that the financial statements comply with the Companies Act 2CQ6. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial Information included on the charitable compan5 website. Legislation in the Unlted Klngdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by order of the Board of Trustees on 17 December 2021 and s18ned on thelr behalf by: LeslSe A Overton Chair of the Board of TNstees li
Trustees, Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091 Develoi)ii?ei?t Ti-(Ist Inde endent examinerf5 re ortto the trustees of Whitb Area Develo ment Trust 'the Com I report to the charity trustees on my examination of the accounts of the charity and the Company for the vear ended 31 December 2020. Responslbllltles and basis of report As the charitVs trustees of the company land also Its d1CtorS for the purposes of company lawl you are responsible for the pparatIOn of the accounts in occordance with the requirements of the Companies Act 20061'the 2006 ACYI. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and a eligible for independent examination, I report in respect of my examination of the charitvs accounts as carried out under section 145 of the Charities Act 20111.the 2011 Act'l. In carrying out my examination I have followed all the applicable directions given by the Charity Commission under Section 14515llbl of the 2011 Act. Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attention In connectlon with the examination giving me cause to believe that in any material respect= l. Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act- or 2. The accounts do not accord with those record5; or 3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair viev/ which is not a matter considered as part of an independent examination. or 4. The accounts have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of the account5 to be reached. Nigel Cle reer5 L Genesi$ 5 Church Lane Heslington York YOIO 5DQ CCA Chartered Accountsnts 20 December 2021 12
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Statement of Financial Activities for the Year Ended 31[st] December 2020
| 2020 | 2020 | 2019 | 2019 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||||||||||
| Funds (£) | Funds (£) | Funds (£) | Funds (£) | Funds (£) | Funds (£) | |||||||||||
| INCOME | Note | |||||||||||||||
| Charitable Activities: | (2) | |||||||||||||||
| Coliseum Services | 30,364 | - | 30,364 | 22,501 | 1,269 | 23,770 | ||||||||||
| Recycling | (6) | 18,945 | - | 18,945 | 21,808 | - | 21,808 | |||||||||
| Tenancies | 114,948 | - | 114,948 | 136,665 | - | 136,665 | ||||||||||
| Larpool Garden | 1,000 | 1,000 | - | - | - | |||||||||||
| Other income: | ||||||||||||||||
| Grants | 44,932 | - | 44,932 | - | - | - | ||||||||||
| Donations & legacies | 200 | - | 200 | 5,228 | - | 5,228 | ||||||||||
| Other | 130 | - | 130 | 127 | - | 127 | ||||||||||
| TOTAL INCOME | 209,519 | 1,000 | 210,519 | 186,329 | 1,269 | 187,598 | ||||||||||
| EXPENDITURE | ||||||||||||||||
| Charitable Activities: | (3) | |||||||||||||||
| Coliseum Services | 45,755 | 1,345 | 47,100 | 48,758 | 2,344 | 51,102 | ||||||||||
| Recycling | (6) | 19,823 | - | 19,823 | 26,331 | - | 26,331 | |||||||||
| Tenancies | 69,632 | - | 69,632 | 72,470 | - | 72,470 | ||||||||||
| Larpool Garden | - | - | - | 100 | - | 100 | ||||||||||
| Other charitable activities | 13,959 | - | 13,959 | 9,843 | - | 9,843 | ||||||||||
| TOTAL EXPENDITURE | 149,169 | 1,345 | 150,514 | 157,502 | 2,344 | 159,846 | ||||||||||
| NET INCOME /(EXPENDITURE) | 60,350 | (345) | 60,005 | 28,827 | (1,075) | 27,752 | ||||||||||
| Total Funds Brought Forward | 1,003,910 | 5,336 | 1,009,246 | 975,083 | 6,411 | 981,494 | ||||||||||
| TOTAL FUNDS CARRIED FORWARD | 1,064,260 | 4,991 | 1,069,251 | 1,003,910 | 5,336 | 1,009,246 |
The notes on pages 16 to 28 form an integral part of these financial statements
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Balance Sheet as at 31[st] December 2020
| 2020 | 2020 | 2019 | 2019 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||||||||
| Funds (£) | Funds (£) | Funds (£) | Funds (£) | Funds (£) | Funds (£) | |||||||||
| Note | ||||||||||||||
| FIXED ASSETS | ||||||||||||||
| Tangible assets | (7) | 966,485 | 3,471 | 969,956 | 961,399 | 4,816 | 966,215 | |||||||
| CURRENT ASSETS | ||||||||||||||
| Stock | 172 | - | 172 | 172 | - | 172 | ||||||||
| Debtors | (8) | 6,827 | - | 6,827 | 6,686 | - | 6,686 | |||||||
| Cash at bank and in hand | 110,520 | 1,520 | 112,040 | 68,540 | 520 | 69,060 | ||||||||
| 117,519 | 1,520 | 119,039 | 75,398 | 520 | 75,918 | |||||||||
| CREDITORS | ||||||||||||||
| Amounts fallingdue | (9) | (13,744) | - | (13,744) | (23,887) | - | (23,887) | |||||||
| within oneyear | ||||||||||||||
| NET CURRENT ASSETS | 103,775 | 1,520 | 105,295 | 51,511 | 520 | 52,031 | ||||||||
| TOTAL ASSETS LESS | ||||||||||||||
| CURRENT LIABILITIES | 1,070,260 | 4,991 | 1,075,251 | 1,012,910 | 5,336 | 1,018,246 | ||||||||
| CREDITORS | ||||||||||||||
| Amounts fallingdue afte | (10) | (6,000) | - | (6,000) | (9,000) | - | (9,000) | |||||||
| more than oneyear | ||||||||||||||
| NET ASSETS | 1,064,260 | 4,991 | 1,069,251 | 1,003,910 | 5,336 | 1,009,246 | ||||||||
| FUNDS | (15) | |||||||||||||
| Unrestricted funds | 774,153 | 713,803 | ||||||||||||
| Revaluation Reserve | 290,107 | 290,107 | ||||||||||||
| 1,064,260 | 1,003,910 | |||||||||||||
| Restricted funds | 4,991 | 5,336 | ||||||||||||
| TOTAL FUNDS | 1,069,251 | 1,009,246 |
The notes on pages 16 to 28 form an integral part of these financial statements
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
The notes on pages 16 to 28 form an integral part of these financial statements
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020
Note 1: ACCOUNTING POLICIES
1.1 Basis of preparing the financial statements
Whitby Area Development Trust is a Charitable Company in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office of the charity is The Coliseum Centre, Victoria Place, Whitby. YO21 1EZ.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £0.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Fund Accounting
The charity maintains a general unrestricted fund which is expendable at the discretion of the trustees in furtherance of the objectives of the charity.
Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the funder or when funds are raised for specific purposes.
1.4 Income
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All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds; it is probable that the income will be received; and the amount can be measured reliably.
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Income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
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The value of goods donated for resale is included as income when the goods are sold. Donated assets are included at the value to the charity where this can be quantified, and a third party is bearing the cost.
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The value of services provided by volunteers has not been included.
Grants made to secure the provision of particular goods or services are included as income for the relevant charitable activity.
- Income from investments (if any) would be included in the year in which it is receivable.
1.5 Expenditure
- Expenditure is recognised in the year in which it is incurred.
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 - continued
1.6 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.7 Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid at the year end.
1.8 Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
1.9 Tangible fixed assets and depreciation
Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as shown below. Additional expenditure of £500 or more on an existing fixed asset is capitalised.
| capitalised. | |
|---|---|
| Coliseum building | - Nil provided since 2006* |
| Other land and buildings | - Straight line over 10 years |
| Auditorium seating | - Straight line over 20 years |
| Fixtures, fittings and equipment | - Straight line over 10 years |
| Motor vehicles and computer equipment | - Straight line over 4 years |
*The freehold property is shown at current market value in accordance with SORP (FRS 102) effective 1 January 2019. The difference between the depreciated value of the Coliseum building (including the residential accommodation then existing on the upper floors) and the market value in 2006 resulted in the creation of a revaluation reserve of £290,107 in 2006.
1.10 Fund Transfer of Fixed Assets
In accordance with SORP (FRS 102) effective 1 January 2019, the value of fixed assets may be transferred from restricted to unrestricted funds when the asset has been purchased in whole or part from a restricted fund donation but the asset is held for a general and not a restricted purpose.
In undertaking the transfer of the asset value of the Coliseum building from the Restricted to the Unrestricted Fund in 2006, Trustees acknowledge their continuing obligation to use the Coliseum Building as a Community Resource Centre under the terms of the ERDF and National Lottery Charities Board grants made in 1998 towards the conversion costs of the Coliseum building
1.11 Taxation
The charity is exempt from corporation tax on its charitable activities.
1.12 Pension costs
The charity contributes to defined contribution pension schemes including individual personal pensions. The assets of the schemes are held separately from those of the charity. Pension costs charged in the Statement of Financial Activities represent the contributions payable by the charity in the year.
17
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 - continued
1.12 Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Note 2: DETAILED INCOME BY ACTIVITY AREA (£s)
| INCOME | 2020 | 2020 | 2019 | 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||||||
| Funds | Funds | Funds | Funds | Funds | Funds | |||||||
| Coliseum Services: | ||||||||||||
| Grants | 27,000 | - | 27,000 | - | 1,000 | 1,000 | ||||||
| Donations | - | - | - | - | 269 | 269 | ||||||
| Internet Café | 302 | - | 302 | 1,635 | - | 1,635 | ||||||
| Room Rentals | 1,509 | - | 1,509 | 7,295 | - | 7,295 | ||||||
| Events | 938 | - | 938 | 6,163 | - | 6,163 | ||||||
| Café Bar | 615 | - | 615 | 6,861 | - | 6,861 | ||||||
| Commission: Ticket sales | - | - | - | 547 | - | 547 | ||||||
| 30,364 | - | 30,364 | 22,501 | 1,269 | 23,770 | |||||||
| Recycling: (Note 6) | ||||||||||||
| Grants | 11,334 | - | 11,334 | - | - | - | ||||||
| Donated Goods | 7,611 | - | 7,611 | 21,808 | - | 21,808 | ||||||
| 18,945 | - | 18,945 | 21,808 | - | 21,808 | |||||||
| Tenancies: | 114,948 | **- ** | 114,948 | 136,665 | - | 136,665 | ||||||
| Larpool Garden: | ||||||||||||
| Grants | - | 1,000 | 1,000 | - | `- | - | ||||||
| - | 1,000 | 1,000 | - | - | - | |||||||
| Total Income from | ||||||||||||
| Charitable Activities: | 164,257 | **1,000 ** | 165,257 | 180,974 | 1,269 | 182,243 | ||||||
| Charity General: | ||||||||||||
| HMRC furloughgrant | 44,932 | - | 44,932 | - | - | - | ||||||
| Donations | 200 | - | 200 | 5,228 | - | 5,228 | ||||||
| Other income | 130 | - | 130 | 127 | - | 127 | ||||||
| 45,262 | - | 45,262 | 5,355 | - | 5,355 | |||||||
| TOTAL CHARITY INCOME: | 209,519 | **1,000 ** | 210,519 | 186,329 | 1,269 | 187,598 |
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Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 - continued
Note 3: DETAILED EXPENDITURE BY ACTIVTY AREA (£s)
| EXPENDITURE | 2020 | 2020 | 2020 | 2020 | 2019 | 2019 | 2019 | |
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
| Funds | Funds | Funds | Funds | Funds | Funds | |||
| Coliseum Services: | ||||||||
| Staff/Volunteer costs | 10,967 | - | 10,967 | 11,836 | - | 11,836 | ||
| Direct Costs | 350 | - | 350 | 2,030 | 1,000 | 3,030 | ||
| Office Costs | 40 | - | 40 | 594 | - | 594 | ||
| Premises Costs | 7,032 | - | 7,032 | 6,292 | - | 6,292 | ||
| Travel | - | - | - | 264 | - | 264 | ||
| Shared Support Costs | 25,436 | - | 25,436 | 26,190 | - | 26,190 | ||
| Depreciation | 1,930 | 1,345 | 3,275 | 1,552 | 1,344 | 2,896 | ||
| 45,755 | 1,345 | 47,100 | 48,758 | 2,344 | 51,102 | |||
| Recycling: (Note 6) | ||||||||
| Staff/Volunteer costs | 5,940 | - | 5,940 | 7,134 | - | 7,134 | ||
| Direct Costs | 915 | - | 915 | 3,945 | - | 3,945 | ||
| Office Costs | 36 | - | 36 | 292 | - | 292 | ||
| Premises Costs | 9,298 | - | 9,298 | 11,219 | - | 11,219 | ||
| Shared Support Costs | 3,634 | - | 3,634 | 3,741 | - | 3,741 | ||
| 19,823 | - | 19,823 | 26,331 | - | 26,331 | |||
| Tenancies: | ||||||||
| Premises Costs | 29,063 | - | 29,063 | 29,834 | 29,834 | |||
| Shared Support Costs | 39,970 | - | 39,970 | 41,155 | - | 41,155 | ||
| Depreciation | 1,601 | - | 1,601 | 1,118 | - | 1,118 | ||
| Finance charges | 103 | - | 103 | 363 | - | 363 | ||
| VAT recoverable | (1,105) | - | (1,105) | - | - | - | ||
| 69,632 | - | 69,632 | 72,470 | - | 72,470 | |||
| Larpool Garden: | ||||||||
| Direct Costs | - | - | - | 100 | - | 100 | ||
| - | - | - | 100 | - | 100 | |||
| Other charitable activities : | ||||||||
| Shared Support Costs | 12,557 | - | 12,557 | 9,118 | - | 9,118 | ||
| Office Costs | 1,086 | - | 1,086 | 379 | - | 379 | ||
| Premises Costs | 316 | - | 316 | 346 | - | 346 | ||
| 13,959 | - | 13,959 | 9,843 | 0 | 9,843 | |||
| TOTAL CHARITY | ||||||||
| EXPENDITURE | 149,169 | 1,345 | 150,514 | 157,502 | 2,344 | 159,846 | ||
| Support costs: | ||||||||
| Staff/Volunteer costs | 72,339 | - | 72,339 | 74,650 | - | 74,650 | ||
| Printing, postage,stationery | 922 | - | 922 | 1,202 | - | 1,202 | ||
| IT costs | 2,064 | - | 2,064 | 1,444 | - | 1,444 | ||
| Bank charges | 438 | - | 438 | 589 | - | 589 | ||
| Proffesional fees | 258 | - | 258 | 1,020 | - | 1,020 | ||
| Accountancyfees | 1,746 | - | 1,746 | 1,047 | - | 1,047 | ||
| Sundry | - | - | - | 252 | - | 252 | ||
| Covid Relief of Rent Due | 3,830 | - | 3,830 | - | - | - | ||
| 81,597 | - | 81,597 | 80,204 | - | 80,204 | |||
| Analysis of all support costs both attributable to specific activities above and other charitable activities expenditure |
19
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 - continued
-
The expenditure of £1,746 shown above as Accountancy fees charged wholly to Charity Management includes the Independent Examiner’s fee of £1200. The remaining £546 is in respect of other accounting services.
-
Shared Support Costs and Finance Charges are allocated in accordance with Note 5.
-
Net Income / (Expenditure) is stated after charging / (crediting)
-
2020 2019
-
Depreciation of owned assets: £4,877 £4,014
Note 4: TOTAL CAPITAL MOVEMENTS BY ACTIVITY AREA (£s)
| Activity Area | Purchase of fixed assets |
(Sale) of fixed assets |
Loan Capital Repaid |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Coliseum Services | 3,936 | - | - | ||||||
| Recycling | - | - | - | ||||||
| Tenancies(Note 5c) | 4,682 | - | 10,698 | ||||||
| Larpool Garden | - | - | - | ||||||
| CharityMgt. | - | - | - | ||||||
| TOTAL 2020 | 8,618 | - | 10,698 | ||||||
| Total 2019 | 1,553 | - | 16,064 |
Note 5: ALLOCATION OF SHARED SUPPORT COSTS AND FINANCE CHARGES
Shared costs are allocated to activity areas as detailed in Note 3 above. Allocation is made consistently on the following basis:
-
a) Property-related costs such as utilities, maintenance services, reception and security staffing costs are allocated in proportion to the floor space occupied.
-
b) Finance, IT and Human Resources costs are allocated according to the staffing time required for each activity area, taking into account each area’s volunteer and staff headcount; payroll, invoicing and cash handling requirements, etc.
-
c) Finance charges and loan repayments are borne by individual activity areas where applicable. The loans from the Tees Valley Housing Trust and Quaker Housing Trust were incurred to provide the Penthouse and Crows Nest residential accommodation, so are allocated wholly to Tenancies.
20
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 - continued
Note 6: DEPARTURE FROM THE REQUIREMENTS OF SORP (FRS 102) JANUARY 2019
In order to present a true and fair view of the charity’s activities and income, Trustees have deemed it necessary to depart from the recommendations made in SORP (FRS 102) January 2019 in the following respects:
SORP (FRS 102) (paragraphs 4.36 and 4.45) requires that shop income from selling donated and bought-in goods should be classed as income from ‘other trading activities’ and that the operating costs of such a shop should be classed as ‘expenditure on fund-raising’.
Trustees consider that the shop activities shown under Recycling Services are a fundamental part of their charitable activities and have thus been included within the income and expenditure on charitable activities, not as other trading activities or as expenditure on fund-raising.
The shop sells only donated items of used furniture and household items, in support of three charitable objectives:
- Relief of poverty
The shop assists low-income families to meet their household needs, at low cost and safely. All upholstered items must bear Fire Safety regulation labels and all electrical goods are PAT tested before sale.
- Environmental savings
The area served has a high proportion of self-catering holiday accommodation, which is frequently refurbished to maintain its market appeal. Many discarded household items, still in good condition, would otherwise be sent to landfill. This aspect of the shop operation is recognised by an entry for Landfill tax credits when available.
- Social inclusion and the creation of training and employment opportunities
The shop is staffed by volunteers, some whom have issues which prevent them securing paid employment. By acquiring customer service skills and basic stock recording – plus a good attendance record – some shop volunteers are helped to progress to paid employment. Others derive on-going benefit from the dignity, social contact, feeling of selfworth and self-respect gained by being a valued member of the shop’s team of volunteers. As shown in the detailed financial statements by activity area (Notes 2 & 3), under the heading Recycling Services, the total cost of running the shop was £19,823. The total income was £18,945, of which £11,334 was Covid-related Business Support Trustees accept that the shop may achieve a surplus or deficit from year to year. However, in accordance with the whole ethos and aims of the charity, the clear intention is to provide a charitable service, not to raise funds for use elsewhere.
21
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 – continued
Note 7: TANGIBLE FIXED ASSETS (£s)
| Freehold | Plant & | Fixtures & Fittings |
Fixtures & Fittings |
Computer | TOTAL | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Property* | Machinery | Equipment | ||||||||||||
| COST OR VALUATION | ||||||||||||||
| As at 1 Jan 2020 | 1,485,324 | 10,844 | 101,262 | 12,112 | 1,609,542 | |||||||||
| Restatement | (527,784) | - | - | - | (527,784) | |||||||||
| Restated at 1 Jan 2020 | 957,540 | 10,844 | 101,262 | 12,112 | 1,081,758 | |||||||||
| Additions | 2,120 | 6,498 | - | - | 8,618 | |||||||||
| At 31 Dec 2020 | 959,660 | 17,342 | 101,262 | 12,112 | 1,090,376 | |||||||||
| DEPRECIATION | ||||||||||||||
| As at 1 Jan 2020 | 532,531 | 4,485 | 94,199 | 12,112 | 643,327 | |||||||||
| Restatement | (527,784) | - | - | - | (527,784) | |||||||||
| Restated at 1 Jan 2020 | 4,747 | 4,485 | 94,199 | 12,112 | 115,543 | |||||||||
| Charge foryear | 1,418 | 1,734 | 1,725 | - | 4,877 | |||||||||
| At 31 Dec 2020 | 6,165 | 6,219 | 95,924 | 12,112 | 120,420 | |||||||||
| NET BOOK VALUES | ||||||||||||||
| As at 31 Dec 2020 | 953,495 | 11,123 | 5,338 | - | 969,956 | |||||||||
| As at 31 Dec 2019 | 952,793 | 6,359 | 7,063 | - | 966,215 |
* Freehold property
The Coliseum building in freehold property is shown at market value of £900,000. As at 2006 the difference between the depreciated value of the building and the then market value resulted in the creation of a revaluation reserve of £290,107. The building has since not been depreciated. The above cost and accumulated depreciation brought forward have been restated to show Coliseum building at market value with no accumulated depreciation.
Note 8: DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (£s)
Trade debtors Other debtors Prepayments and accrued income |
2020 850 5,423 554 6,827 |
2019 2,791 3,326 569 |
|
|---|---|---|---|
| 6,686 |
22
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 – continued
Note 9: CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (£s)
Other loans(see Note 11) Deferred income (see Note 12) Trade creditors Social security and other taxes Accruals |
2020 3,000 875 6,069 - 3,800 13,744 |
2019 10,698 1,900 7,344 2,093 1,852 |
|
|---|---|---|---|
| 23,887 |
Note 10: CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR (£s)
| Other loans:(see Note 11) Quaker Housing Trust |
2020 6,000 6,000 |
2019 9,000 |
|
|---|---|---|---|
| 9,000 |
Note 11: LOANS (£s) An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Quaker Housing Trust Amounts falling due between two and five years: Quaker Housing Trust Note 12: Deferred Income Balance at 1 January Amount released to income Amount deferred in period Balance at 31 December |
2020 3,000 3,000 6,000 6,000 2020 £ 1,900 (1,900) 875 ______ **875 ** |
2019 3,000 3,000 9,000 9,000 2019 £ 1,864 (1,864) 1,900 _____ 1,900 |
|
|---|---|---|---|
Deferred income comprises rental payments received on account.
23
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 – continued
Note 13: OTHER FINANCIAL COMMITMENTS (£s)
At 31 December 2020 the company had total commitments under non-cancellable operating leases as follows:
| leases as follows: | ||||
|---|---|---|---|---|
| Operating leases which expire: Rent Within 1 year Within two to five years Equipment Within 1 year Within two to five years |
2020 £ 9,400 - 9,400 505 505 **1,010 ** |
2019 £ 9,400 9,400 18,800 505 1,010 1,515 |
2019 £ 9,400 _9,400 _ |
|
| 1,515 |
Note 14: SECURED DEBTS (£s)
The loan from Tees Valley Housing Trust was secured on the Coliseum building and was included within creditors, until the loan was repaid in full in June 2020.
| Tees Valley Housing Trust | 2020 0 |
2019 |
|---|---|---|
| 7,698 |
24
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 - continued
Note 15: MOVEMENT IN FUNDS (£s)
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objects (see page 3) at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within some of the objects of the charity, though not all of them. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
-------- Movement in funds during the year ended 31 December 2020 -------
| Fund Name | Balance brought forward Income Expenditure Transfers Gains or (losses) Balance carried forward |
|
|---|---|---|
| Unrestricted Funds: General unrestricted funds Revaluation reserve Restricted Funds: No.3: _Auditorium seating Funder: Arts Council _No. 63:Projection Equipment Funder: British Film Institute No. 64: Social Inclusion Events Funder: Whitby Co-op No. 67:Pilates Classes Funders: participants _No 68:_Larpool equip/supplies Funder: Normanby Charitable Trust Total Charity Funds |
713,803 209,519 (149,169) - - 774,153 290,107 - - - - 290,107 |
|
| 1,003,910 209,519 (149,169) - - 1,064,260 3,450 - (1,150) - - 2,300 1,366 - (195) - - 1,171 250 - - - - 250 270 - - - - 270 - 1,000 - - - 1,000 |
||
| 5,336 1,000 (1,345) - - 4,991 |
||
| 1,009,246 210,519 (150,514) - - 1,069,251 |
(see overleaf for Movement in Funds during the year ended 31 December 2019)
25
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 – continued
-------- Movement in funds during the year ended 31 December 2019 -------
| Fund Name | Balance brought forward Income Expenditure Transfers Gains or (losses) Balance carried forward |
|
|---|---|---|
| Unrestricted Funds: General unrestricted funds Revaluation reserve Restricted Funds: No.3: _Auditorium seating Funder: Arts Council _No. 63:Projection Equipment Funder: British Film Institute No. 64: Social Inclusion Events Funder: Whitby Co-op No. 67:Pilates Classes Funders: participants No. 66: Social Activities Elderly Funder: Stronger Communities Fund Total Charity Funds |
684,976 186,329 (157,502) - - 713,803 290,107 - - - - 290,107 |
|
| 975,083 186,329 (157,502) - - 1,003,910 4,601 - (1,151) - - 3,450 1,560 - (194) - - 1,366 250 - - - - 250 - 270 - - - 270 - 999 (999) - - - |
||
| 6,411 1,269 (2,344) - - 5,336 |
||
| 981,494 187,598 (159,846) - - 1,009,246 |
26
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 – continued
Note 16: ANALYSIS OF ASSETS BETWEEN FUNDS
| Fund balances at 31 Dec 2020 as represented by: Fund balances at 31 Dec 2019 as represented by: Tangible Fixed Assets Current Assets Current Liabilities Long-term Liabilities Tangible Fixed Assets Current Assets Current Liabilities Long-term Liabilities |
Unrestricted Restricted Total funds funds funds £ £ £ Unrestricted Restricted Total funds funds funds £ £ £ 966,485 3,471 969,956 117,519 1,520 119,039 (13,744) - (13,744) (6,000) - (6,000) 1,064,260 4,991 1,069,251 961,399 4,816 966,215 75,398 520 75,918 (23,887) (23,887) (9,000) (9,000) |
Unrestricted Restricted Total funds funds funds £ £ £ Unrestricted Restricted Total funds funds funds £ £ £ 966,485 3,471 969,956 117,519 1,520 119,039 (13,744) - (13,744) (6,000) - (6,000) 1,064,260 4,991 1,069,251 961,399 4,816 966,215 75,398 520 75,918 (23,887) (23,887) (9,000) (9,000) |
|---|---|---|
| 1,064,260 4,991 1,069,251 |
||
| Unrestricted Restricted Total funds funds funds £ £ £ 961,399 4,816 966,215 75,398 520 75,918 (23,887) (23,887) (9,000) (9,000) |
||
| 1,003,910 5,336 1,009,246 |
Note 17: RELATED PARTY DISCLOSURES
Related parties are persons or entities that are closely related to the reporting charity or its trustees. Related party transactions are the transfer of resources, services or obligations between related parties, regardless of whether a price is charged.
There were no related party transactions for the year ended 31 December 2020 or for the year ended 31 December 2019.
Note 18: CHARITY ACTING AS AGENT OR CUSTODIAN
On occasion, the charity acts as an agent or custodian for other not-for-profit groups in the local community. It does this primarily by acting as an accountable body for unincorporated groups without a bank account, usually pending an application for charitable status or incorporation. Such funds are held entirely separately from the charity’s main account with Unity Trust Bank. Funds are only released from the associated account on receipt of written authorisation from two designated members of the community group.
The charity receives no payment or commission from such arrangements.
27
Trustees’ Report and Financial Statements for the year ended 31 December 2020 Reg. Charity No. 518451 Company No. 02048091
Notes to the Financial Statements for the Year Ended 31[st] December 2020 – continued
Note 19: TRUSTEES & KEY MANAGEMENT PERSONNEL
Trustee Payments: No Trustee or person connected with a Trustee received any payment (i.e. any remuneration, expenses or other benefits) during the year ended 31 December 2020 or during the year ended 31 December 2019.
Senior Management Payments: The total remuneration package of the Chief Executive Officer did not exceed £60,000 per annum including all salary, social security and pension costs or other benefits during the year ended 31 December 2020 or during the year ended 31 December 2019.
Note 20: STAFFING
The average number of staff employed during 2020 was as follows:
Shared Support Services: Full-time: 3 Part-time: 2
| Employment costs during the year were2020 | Employment costs during the year were2020 | 2019 |
|---|---|---|
| Wage / salary costs | 84,311 | 86,003 |
| Social security costs | 1,813 | 2,880 |
| Pension costs | 2,414 | 2,285 |
| Total | £88,538 | £91,168 |
No employee was paid £60,000 p.a. or higher.
Note 21 : SUBSIDIARY COMPANY
The Coliseum Trading Company Limited (Company number 0733657) is a wholly-owned trading subsidiary, first registered on 16 March 1999. The Company has been dormant since 2003.
28