Trinity House Social Centre
Charity No. 520584
Trustees' Report and Unaudited Accounts
31 March 2022
Trinity House Social Centre Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 1 |
| Independent Examiner's Report | 2 to 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Statement of Cash flows | 6 |
| Notes to the Accounts | 7 to 8 |
| Detailed Statement of Financial Activities | 9 to |
Page 1
Trinity House Social Centre Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 520584
Principal Office
134 Laygate South Shields Tyne and Wear NE33 4JD
Trustees
The following trustees served during the year:
I. Carr (Appointed January 2014)
Key Management Personnel
Chair
Accountants
DJP Accountancy Limited 78 Lumley Avenue South Shields NE34 7DL
Bankers
Ian Carr
Lloyds TSB South Shields Branch King Street South Shields Tyne and Wear NE33
Solicitors
None Appointed
Investment Advisors
N/A
Page 2
Trinity House Social Centre Trustees Annual Report
OBJECTIVES AND ACTIVITIES
Trinity House overall ethos is contained in the Charity Commission Document. The object of the Charity shall be:
The provision and maintenance of a community centre for the use of the inhabitants of South Shields with distinction of political, religious or other opinions with the object of improving the conditions of life of the said inhabitants.
ACHIEVEMENTS AND PERFORMANCE
Due to COVID-19 restrictions and necessary refurbishment the Charity was unable to restart operations until September 2022.
At this point it was established many groups would not be returning, impacting on the financial statues of the Charity.
The Building also suffered structural damage during storms, which is subject to Insurance Claims. The ongoing planning and development of the charity has been extended for a further year to accommodate the issues this year has raised and the Trustees are determined to progress with the development of the charity.
The beneficiaries of the charities continue to support and engage in the forward thinking planning of the charity and have been pleased to report the positive feedback from their clients, colleagues, family and friends.
This year has also seen our policies and procedures reviewed and this process is ongoing. We are again confident that the Charity is continuing to grow in line with our expectations and development plan and we look forward to being of great value to the local and wider community.
FINANCIAL REVIEW
The results of the year and the charitiy's financial position at the end of the year are shown in the attached financial statements.
During the year the Charity had receipts of £88,709 (2021: £31,960) and payments of £99,747 (2021 : £43,497). There was an operating deficit of -£11,038 (2021: Deficit -£11,807)
The Charity currently disputes the validity of the current charges being levied by British Gas for Gas and Electricity. Issues regarding Account Ownership, VAT status and Climate Change Levy are being investigated. The liability is being recorded at the level billed by British Gas but once resolution is gained this should reduce the liability significantly.
PLANS FOR FUTURE PERIODS
Training is identified for Trustees when in place. Due to the final paragraph in section 4 this has caused problems in the recruitment of trustees, in some cases due to the people having the knowledge to assist also identify themselves with a conflict of interest.
The Charity will continue to promote a culture of Diversity and Equality.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Page 3
Trinity House Social Centre Trustees Annual Report
The Management Committee is the body responsible for the overall management of the Charity, financial stability, organisational policy, budget setting and review and strategic direction.
The Managing Agent has responsibility of the day to day management of the centre, the supervision of staff and volunteers, monitoring of work and of progress of targets including increasing income to ensure long term stability.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
I. Carr (Appointed January 2014) Trustee 31 March 2022
Page 4
Trinity House Social Centre Independent Examiners Report
Independent Examiner's Report to the trustees of Trinity House Social Centre
I report to the trustees on my examination of the financial statements of Trinity House Social Centre for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
DJP Accountancy Limited 78 Lumley Avenue South Shields
NE34 7DL 31 March 2022
Page 5
Trinity House Social Centre Statement of Financial Activities
for the year ended 31 March 2022
| Notes Income and endowments from: Other trading activities 3 Other 4 Total Expenditure on: Other 5 Total Net gains on investments Net expenditure 6 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2022 | 2022 | 2021 | ||
| £ | £ | £ | ||
| 80,652 | 80,652 | 9,605 | ||
| 8,057 | 8,057 | 22,686 | ||
| 88,709 | 88,709 | 32,291 | ||
| 99,746 | 99,746 | 43,497 | ||
| 99,746 | 99,746 | 43,497 | ||
| - | - | - | ||
| (11,037) | (11,037) | (11,206) | ||
| - | - | - | ||
| (11,037) | (11,037) | (11,206) | ||
| (11,037) | (11,037) | (11,206) | ||
| 333,980 | 333,980 | 345,787 | ||
| 322,943 | 322,943 | 334,581 | ||
Page 6
Trinity House Social Centre Balance Sheet
at 31 March 2022
| Charity No. 520584 Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current liabilities Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds Reserves 11 Total funds Approved by the trustees on 31 March 2022 |
2022 £ 373,800 373,800 1,264 57 1,321 (52,178) (50,857) 322,943 322,943 322,943 322,943 322,943 322,943 |
2021 £ 378,000 |
|---|---|---|
| 378,000 600 1,161 |
||
| 1,761 (45,180) |
||
| (43,419) 334,581 |
||
| 334,581 | ||
| 334,581 | ||
| 333,980 | ||
| 333,980 | ||
| 333,980 | ||
And signed on their behalf by:
I. Carr (Appointed January 2014) Trustee 31 March 2022
Page 7
Trinity House Social Centre Notes to the Accounts
for the year ended 31 March 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Trinity House Social Centre Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
| useful life: | |
|---|---|
| Freehold property | -1%% Straight Line |
| FIxture and Fittings and Equipment |
-15%% Reducing Balance |
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 9
Trinity House Social Centre Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 10
Trinity House Social Centre Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Other trading activities Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from other trading activities Catering Room Hire 4 Other income |
Unrestricted £ 68,707 11,945 80,652 Unrestricted £ 8,057 8,057 |
Unrestricted funds 2021 £ 9,605 22,686 32,291 43,497 43,497 (11,206) (11,206) (11,206) 345,787 334,581 Total 2022 £ 68,707 11,945 80,652 Total 2022 £ 8,057 8,057 |
Total funds 2021 £ 9,605 22,686 |
| 32,291 43,497 |
|||
| 43,497 | |||
| (11,206) | |||
| (11,206) | |||
| (11,206) 345,787 |
|||
| 334,581 | |||
| Total 2021 £ 4,093 5,512 |
|||
| 9,605 | |||
| Total 2021 £ 22,686 |
|||
| 22,686 |
Page 11
Trinity House Social Centre Notes to the Accounts
5 Other expenditure
| Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 6 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs No employee received emoluments in excess 8 Tangible fixed assets Cost or revaluation At 1 April 2021 At 31 March 2022 Depreciation and impairment At 1 April 2021 Depreciation charge for the year At 31 March 2022 Net book values At 31 March 2022 At 31 March 2021 9 Debtors Trade debtors 10 Creditors: amounts falling due within one year Other creditors |
of £60,000. Land and buildings £ 420,000 420,000 42,000 4,200 46,200 373,800 378,000 |
Unrestricted £ 7,678 4,200 1,471 86,397 99,746 2022 £ 4,200 |
Total 2022 £ 7,678 4,200 1,471 86,397 99,746 £ 1,649 1,649 1,649 - 1,649 - - |
Total 2021 £ 12,458 - 3 31,036 |
|---|---|---|---|---|
| 43,497 | ||||
| 2021 £ - Total £ 421,649 |
||||
| FIxture and Fittings and Equipment |
||||
| £ - - - - - - - 2022 £ 1,264 1,264 2022 £ 52,178 52,178 |
||||
| 421,649 | ||||
| 43,649 4,200 |
||||
| 47,849 | ||||
| 373,800 | ||||
| 378,000 | ||||
| 2021 £ 600 |
||||
| 600 | ||||
| 2021 £ 45,180 |
||||
| 45,180 |
Page 12
Trinity House Social Centre Notes to the Accounts
11 Movement in funds
| Restricted funds: Unrestricted funds: General funds Total funds 12 Analysis of net assets between funds Fixed assets Net current assets 13 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 April 2021 333,980 333,980 |
Incoming resources (including other gains/losses ) £ 88,709 88,709 At 1 April 2021 £ |
Resources expended £ (99,746) (99,746) Unrestricted funds £ 373,800 (50,857) 322,943 Cash flows £ |
At 31 March 2022 £ 322,943 |
|---|---|---|---|---|
| 322,943 | ||||
| Total £ 373,800 (50,857) |
||||
| 322,943 | ||||
| At 31 March 2022 £ |
||||
| 1,161 | (1,104) | 57 | ||
| 1,161 1,161 |
(1,104) (1,104) |
57 | ||
| 57 | ||||
Page 13
Trinity House Social Centre Statement of Cash flows for the year ended 31 March 2022
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Increase in trade and other receivables Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2022 £ (11,037) 4,200 (8,057) (664) 6,998 (8,560) 8,057 8,057 - (503) 1,161 658 |
2021 £ (11,206) - (22,686) (600) 12,458 |
|---|---|---|
| (22,034) 22,686 |
||
| 22,686 | ||
| - | ||
| 652 | ||
| 509 | ||
| 1,161 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 57 | 1,161 |
| 57 | 1,161 |
Page 14
Trinity House Social Centre Detailed Statement of Financial Activities
for the year ended 31 March 2022
| Income and endowments from: Other trading activities Catering Room Hire Other Total income and endowments Expenditure on: Premises costs Light, heat and power Other premises costs General administrative costs, including depreciation and amortisation Depreciation of FIxture and Fittings and Equipment Depreciation of Bank charges General insurances Legal and professional costs Management charges Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: |
Unrestricted funds 2022 £ 68,707 11,945 80,652 8,057 8,057 88,709 6,998 680 7,678 - 4,200 - 1,471 5,671 86,397 86,397 99,746 99,746 - (11,037) (11,037) - (11,037) |
Total funds 2022 £ 68,707 11,945 80,652 8,057 8,057 88,709 6,998 680 7,678 - 4,200 - 1,471 5,671 86,397 86,397 99,746 99,746 - (11,037) (11,037) - (11,037) |
Total funds 2021 £ 4,093 5,512 |
|---|---|---|---|
| 9,605 | |||
| 22,686 | |||
| 22,686 | |||
| 32,291 12,458 - |
|||
| 12,458 | |||
| - - 3 - |
|||
| 3 | |||
| 31,036 | |||
| 31,036 | |||
| 43,497 | |||
| 43,497 - |
|||
| (11,206) | |||
| (11,206) - |
|||
| (11,206) | |||
Page 15
Trinity House Social Centre Detailed Statement of Financial Activities
| Trinity House Social Centre Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total funds brought forward Total funds carried forward |
333,980 322,943 |
333,980 322,943 |
345,787 |
| 334,581 |
Page 16