CHAIRMANS REPORT TO THE AGM
The Medway Centre was forced to close from 26[th] March 2020 in accordance with the Lockdown regulations put in place due to the Covid-19 pandemic. These remained in place in some form until the full release in the summer of 2020.
During this time a limited number of groups were able to operate, for instance EMH Care and Support used the Centre as a gathering point and from July the Youth Theatre (they managed to stage an outdoor performance) and the Infants School were able to resume activities.
In expectation of the review of regulations other groups started to return during August and early September. Jonathan Mallalieu piano lessons, Peak Trinity Church, Pilates and Peak Performance Theatre School. However, resumption of the tighter restrictions at the end of September and the imposition of the full Lockdown from November very little activity took place in the Centre until some restrictions were lifted in the Spring of 2021.
Obviously, this has affected our cashflow but where possible we were able to save on operating costs especially by using the staff furlough scheme and making savings where possible. Colin will report the detail of this and I would like to thank him for all his support and vigilance during the worst months of the pandemic.
This is probably the shortest ever Chairman’s Report to be given for the Medway but we can say that things have been getting busier all the time since the summer and we hope to have a slightly more detailed report next year!
MEDWAY CENTRE COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
FOR
31 MARCH 2021
Charity Number 518564
MEDWAY CENTRE COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
| Contents | Page |
|---|---|
| Members of the board and professional adviser | 1 |
| Trustees’ annual report | 2-4 |
| Independent examiners report | 5 |
| Statement of financial activities | 6 |
| Balance Sheet | 7 |
| Notes to the financial statements | 8-15 |
MEDWAY CENTRE COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
The board of trustees
Mr. N. Wilson (Chair) Mrs. V. Challenger Mr. C. Nicol Mr. R. Mather Mrs. S. Sidebottom Mrs. S. Stones Mr. C. Blackshaw Mr. J. Wicksteed Mrs D Furness
Registered office Medway Centre New Street Bakewell Derbyshire DE45 1GT
Independent Examiner Mark Newey ACMA Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DE1 1RY
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MEDWAY CENTRE COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
The trustees have pleasure in presenting their report and the examined financial statements of the charity for the year ended 31 March 2021.
OBJECTIVES AND ACTIVITIES
A) To promote the benefit of the inhabitants of the area without distinction of sex or of political religious or other opinions by associating the local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interests of social welfare and leisure time occupation with the object of improving the conditions of life for the said inhabitants.
B) To establish or to secure the establishment of a community centre and to maintain and manage or to co-operate with any local statutory authority on the maintenance and management of such a centre for activities promoted by the Association and its constituent bodies.
SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THESE OBJECTS
In planning our activities for the year we kept in mind the Charity Commissions guidance on public benefit at our trustees meetings.
Medway Centre Community Association is open to all individuals irrespective of race, gender or other personal circumstances.
Review of the Year’s developments activities and achievements
The Medway Centre was forced to close from 26[th] March 2020 in accordance with the Lockdown regulations put in place due to the Covid-19 pandemic. Since the start of this financial year we have hosted some of our regular customers for part of the year when restrictions allowed but have had little activity and income.
Our expenditure has mainly been on normal utilities and additional costs to ensure the Centre was compliant with Covid-19 hygiene regulations.
We were very grateful to have received an amount of Covid-19 Business Grants and to have been able to use the Covid Job Retention Scheme to finance the staff salaries.
We look forward to a brighter year.
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MEDWAY CENTRE COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
.
FINANCIAL REVIEW
RESERVES
The Association aims to have reserves to cover current operating costs.
STATUS AND ADMINISTRATION
Governing document
Medway Centre Community Association is a registered charity, 518564. The charity's governing document is a constitution adopted on 19 May 1986 as amended on 20 October 2003 and 20 October 2008. The charity's registered office is, Medway Centre, New Street, Bakewell, DE45 1GT.
Induction and training of trustees
The Charity undertakes, when the need arises, a skills audit to determine the requirements of the trustee body. If a skill shortage is identified, approaches are made to specific people identified as having these skills
Risk management policy
The trustees examine the major risks that the charity faces each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the charity in the future.
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MEDWAY CENTRE COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
Independent Examiner
Mark Newey ACMA of Derby Community Accountancy Service and will be in office as independent examiner for the ensuing year.
Registered office: Medway Centre New Street Bakewell DE45 1GT
Signed on behalf of the trustees
N. Wilson Chair
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MEDWAY CENTRE COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
Independent Examiner's Report to the Trustees of Medway Centre Community Association
I report on the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 15 .
Respective responsibilities of the trustees and examiner
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed 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 which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mark Newey ACMA Date Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DE1 1RY
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MEDWAY CENTRE COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITY
YEAR ENDED MARCH 31[st] 2021
| Total Funds | Total Funds | ||||
|---|---|---|---|---|---|
| Year to 31 | Year to 31 | ||||
| Unrestricted | Restricted | Mar 2021 | Mar 2020 | ||
| Funds | Funds | ||||
| Note | £ |
£ | £ | £ | |
| Income from: | |||||
| Donations | 3 | 283 | - | 283 | 25 |
| Charitable activities | 4 | 38,805 | 5,997 | 44,802 | 88,821 |
| Other income | - | - | - | - | - |
| Investment income | 5 | - | - | - | 1 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | -------------------------------- | ||
| Total incoming resources | 39,088 | 5,997 | 45,085 | 88,847 | |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | -------------------------------- | ||
| Expenditure on: | |||||
| Raising funds | - | - | - | - | |
| Charitable activities | 36,966 | 5,997 | 42,963 | 60,580 | |
| -------------------------------- | ------------------------------------- | ------------------------------------- | ----------------------------------- | ||
| Total resources expended | 6 | 36,966 | 5,997 | 42,963 | 60,580 |
| -------------------------------- | ------------------------------------- | ------------------------------------- | --------------------------------- | ||
| Net incoming/(outgoing) | |||||
| resources before transfers | 2,122 | - | 2,122 | 28,267 | |
| Transfer between funds | 16,163 | (16,163) | - | - | |
| -------------------------------- | --------------------------- | -------------------------------- | --------------------------- | ||
| Net incoming/(outgoing) | |||||
| resources for the year | 18,285 | (16,163) | 2,122 | 28,267 | |
| Balances brought forward | 267,052 | 22,927 | 289,979 | 261,712 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Balances carried forward | 285,337 | 6,764 | 292,101 | 289,979 | |
| ================================ | =========================== | ================================ | ================================ |
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 8 to 15 form part of these financial statements.
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MEDWAY CENTRE COMMUNITY ASSOCIATION BALANCE SHEET
31 MARCH 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 9 | 199,121 | 204,254 | ||
| Current assets | |||||
| Cash at bank and in hand | 90,168 | 86,614 | |||
| Debtors | 10 | 4,341 | 2,164 | ||
| -------------------------------- | --------------------------- | ||||
| 94,509 | 88,778 | ||||
| Creditors: amounts falling due | |||||
| within one year | 11 | 1,529 | 3,053 | ||
| -------------------------------- | -------------------------------- | ||||
| Net current assets | 92,980 | 85,725 | |||
| -------------------------------- | -------------------------------- | ||||
| Total assets less current liabilities | 292,101 | 289,979 | |||
| --------------------------- | -------------------------------- | ||||
| Net assets/(liabilities) | 292,101 | 289,979 | |||
| =========================== | ================================ | ||||
| Funds | |||||
| Restricted | 12 | 6,764 | 22,927 | ||
| General Reserves | 12 | 285,337 | 267,052 | ||
| --------------------------- | -------------------------------- | ||||
| TOTAL FUNDS | 292,101 | 289,979 | |||
| =========================== | ================================ |
The financial statements were approved by the members of the committee on the and signed on their behalf by:
N. Wilson Chair
The notes on pages 8 to 15 form part of these financial statements.
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1. Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Charity information
Medway Centre Community Association is a registered charity. The charity’s registered office is Medway Centre, New Street, Bakewell, DE45 1GT. At the end of the year there were 9 Trustees
1.1 Accounting convention
These accounts have been prepared in accordance with FRS 102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it apples from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in Sterling which is the functional currency of the charity. Monetary amounts in these financial statements to the nearest £.
The accounts have been prepared on historical cost convention apart from freehold property that is carried at market value. The principal accounting policies adopted are set out below.
These are accounts for the year ended 31 March 2021 are the first accounts of Medway Centre Community Association prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
1.2 Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity 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 accounts.
1.3 Charitable Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
1.4 Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind have been included at market value of gifts received and in assets acquired. No amounts are included in the financial statements for services donated by volunteers.
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in the support of the charitable activities.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Creditors and provisions
Creditors and provisions 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
1.9 Financial instruments
The charity has no financial assets and financial liabilities of a kind that qualify as basic financial instruments.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Taxation
The charity is exempt from tax on income and gains falling with section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1.12 Depreciation
Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:-
| Asset category | Annual rate |
|---|---|
| Buildings | 2% |
| Computers | 33.33% |
| Other Powered Equipment | 15% |
| Furniture | 10% |
2 Critical accounting estimates and judgements
- In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimated and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
3. Voluntary income
| Voluntary income | ||||
|---|---|---|---|---|
| Total Funds | ||||
| Unrestricted | Restricted | Year to 31 | Period to 31 | |
| Funds | Funds | Mar 2021 | Mar 2020 | |
| £ | £ | £ | £ | |
| Donations from individuals | 283 | - | 283 | 25 |
| -------------------------------- | ------------------------------------- | ------------------------------------- | -------------------------------- | |
| 283 | - | 283 | 25 | |
| ================================ | ===================================== | ===================================== | ============================= |
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
4. Charitable Activities
| Total Funds | Total Funds | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Year to 31 | Year to 31 | |
| Funds | Funds | Mar 2021 | Mar 2020 | |
| £ | £ | £ | £ | |
| Grants | ||||
| Building improvement grant | - | - | - | 11,000 |
| Derbyshire Dales District Council | 24,500 | - | 24,500 | - |
| Duke of Devonshire Charitable Trust | - | - | - | 10,000 |
| The Rank Foundation | - | - | - | 850 |
| National Lottery Community Fund | - | - | - | 10,000 |
| HM Revenue and Customs | ||||
| (Furlough) | - | 5,997 | 5,997 | - |
| Other Charitable Activity | ||||
| Room Lettings | 12,892 | - | 12,892 | 50,662 |
| Feed in Tariff income | 1,273 | - | 1,273 | 1,379 |
| Fundraising Events | 140 | - | 140 | 4,920 |
| Equipment Hire | - | - | - | 10 |
| -------------------------------- | ------------------------------------- | ------------------------------------- | -------------------------------- | |
| 38,805 | 5,997 | 44,802 | 88,821 | |
| ================================ | ===================================== | ===================================== | ============================= |
5 Interest receivable
| Year to | Period to | |
|---|---|---|
| 31 Mar | 31 Mar | |
| 2021 | 2020 | |
| £ | £ | |
| Bank interest receivable | - | 1 |
| ================ | ================ |
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
6. Total resources expended
Staff costs Fees Printing & publications Lease/rent Insurance Telephone Office Stationery Maintenance and security costs Utilities Administrative expenses Depreciation Accountancy fees Sundry |
Total Funds Year to 31 Mar 2021 £ 19,800 988 192 150 1,780 795 - 3,996 3,400 164 11,218 480 - 42,963 |
Total Funds Year to 31 Mar 2020 £ 28,329 1,287 3,096 150 1,789 815 455 5,768 6,333 1,574 10,514 470 - 60,580 |
|---|---|---|
Expenditure on charitable activities was £42,963 (2020: £60,580) of which £5,997 was restricted (2020 £0)
7. Net (expenditure)/income
| Net (expenditure)/income | ||
|---|---|---|
| Year to | Year to | |
| 31 Mar | 31 Mar | |
| 2021 | 2020 | |
| £ | £ | |
| Independent examiner’s Fees | 480 | 470 |
| Depreciation | 11,218 | 10,514 |
| =========================== | =========================== |
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
8. Trustees and key management personnel
During the year trustees did not receive remuneration for their roles as trustees
The key management personnel of the charity consist of the trustees, the centre management team.
The aggregate payroll costs were:
| Year to | Period to | |
|---|---|---|
| 31 Mar | 31 Mar | |
| 2021 | 2020 | |
| £ | £ | |
| Wages and salaries | 19,032 | 27,561 |
| National Insurance | - | - |
| Pension | 768 | 768 |
| -------------------------------- | -------------------------------- | |
| 19,800 | 28,329 | |
| ================================ | ================================ |
No employee earned more than £60,000 per annum. No trustees were reimbursed for expenditure.
Particulars of employees:
The average number of staff employed by the charity during the financial year amounted to:
| Year to | Year to | |
|---|---|---|
| 31 Mar | 31 Mar | |
| 2021 | 2020 | |
| No | No | |
| Direct Charitable Staff | 2 | 3 |
| Administration | - | - |
| ___ | ___ | |
| 2 | 3 | |
| ================ | ================ |
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
9. Tangible fixed assets
| 9. | Tangible fixed assets | |||
|---|---|---|---|---|
| Equipment | Building | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 31 March 2020 | 77,914 | 274,929 | 352,843 | |
| Additions | 6,085 | - | 6,085 | |
| Disposals | - | - | - | |
| -------------------------------- | --------------------------- | -------------------------------- | ||
| At 31 March 2021 | 83,999 | 274,929 | 358,928 | |
| ================================ | =========================== | ================================ | ||
| Depreciation | ||||
| At 31 March 2020 | 54,969 | 93,620 | 148,589 | |
| Depreciation on Disposal | - | - | - | |
| Charge for the year | 5,714 | 5,504 | 11,218 | |
| --------------------------- | ----------------------------- | --------------------------- | ||
| At 31 March 2021 | 60,683 | 99,124 | 159,807 | |
| =========================== | ========================= | =========================== | ||
| Net book value | ||||
| At 31 March 2021 | 23,316 | 175,805 | 199,121 | |
| =========================== | =========================== | ================================ | ||
| At 31 March 2020 | 22,945 | 181,309 | 204,254 | |
| ================================ | =========================== | ================================ | ||
| 10. | Debtors: | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Trade debtors | 2,733 | 899 | ||
| Prepayments | 1,608 | 1,265 | ||
| -------------------------------- | -------------------------------- | |||
| 4,341 | 2,164 | |||
| ================================ | ================================ | |||
| 11. | Creditors: | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Trade creditors | 1,295 | 2,139 | ||
| Ground Rent | 150 | 150 | ||
| HM Revenue and Customs | 84 | 764 | ||
| -------------------------------- | -------------------------------- | |||
| 1,529 | 3,053 | |||
| ================================ | ================================ |
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MEDWAY CENTRE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
12. Statement of funds
| Statement of funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At 1 April | 31March | ||||
| 2020 Incoming | Outgoing | Transfers | 2021 | ||
| £ | £ | £ | £ | ||
| General reserve | 267,052 | 39,088 | (36,966) | 16,163 | 285,337 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | |
| Total unrestricted funds | 267,052 | 39,088 | (36,966) | 16,163 | 285,337 |
| Restricted Funds | |||||
| Building improvement grant | 10,078 | - | - |
(10,078) | - |
| Duke of Devonshire Charitable Trust | 1,999 | - | - |
(1,240) | 759 |
| Rank Foundation | 850 | - | - |
(675) | 175 |
| National Lottery Community Fund | 10,000 | - | - |
(4,170) | 5,830 |
| HM Revenue and Customs (Furlough) | - | 5,997 | (5,997) |
- | - |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | |
| Total restricted funds | 22,927 | 5,997 | (5,997) | (16,163) | 6,764 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | |
| Total funds | 289,979 | 45,085 | (42,963) | - | 292,101 |
| ------------------------------------- | ===================================== | ==================================== | ------------------------------------- | ------------------------------------- | |
| Analysis of net assets | |||||
| Tangible | Other net | ||||
| fixed assets | assets | Total | |||
| Unrestricted funds | |||||
| £ | £ | £ | |||
| General Funds | 199,121 | 86,216 | 285,337 | ||
| Designated Funds | - | - | - | ||
| Restricted funds | |||||
| Duke of Devonshire Charitable Trust | - | 759 | 759 | ||
| Rank Foundation | - | 175 | 175 | ||
| National Lottery Community Fund | - | 5,830 | 5,830 | ||
| ______ | ______ | ______ | |||
| 199,121 | 92,980 | 292,101 | |||
| ==================================== | ==================================== | ==================================== |
13. Analysis of net assets
14. Related party transactions
The charity had no related party transactions that required disclosure.
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