Chairmans Report 2020/2021
Hetton Town Trust and Hetton Centre Trading
This financial year has been challenging for many reasons. The pandemic brought a complete shutdown of the Hetton Centre which meant that we were not able to trade and staff were furloughed.
Our manager Kim worked from home throughout to carry out admin duties as necessary. This included accounting duties, wages etc. We owe our thanks to Kim for her excellent management throughout this difficult time.
Cafe
As I reported in the 2019/2020 report, the café had continued to accumulate losses that proved to be unsustainable despite best efforts by staff. As a result, it was decided to close the café and make café staff redundant. This was carried out with the advice of our HR advisors and all staff received redundancy payments commensurate with their service. The decision was not taken lightly but was necessary to limit further loss. The café area was thoroughly cleaned, and all useable food stock was gifted to local foodbanks to assist with their efforts to ensure that those in need didn’t go without.
Bar/Function room/Meeting rooms
These areas were unable to open and therefore could not trade.
Football
No games were played throughout the pandemic. We agreed a reduced sum from SAFC to cover the basic costs of maintaining the building.
Nursery.
The nursery provided childcare for essential workers. Because of the limited access to the building, parents and guardians were met at the entrance in compliance with social distancing advice. Nursery staff and management are to be complimented for the way that this was implemented.
The Future
Any progress will depend on how the pandemic situation plays out. There is no timeline that can be relied on to plan ahead. We depend on social interaction, functions, bar, meeting rooms and football are our business. As soon as we see a green light, we will be ready to commence operations. This cannot come too soon and constructive enthusiastic input from staff and trustees has never been more important.
Sincere thanks to all who have supported our efforts through difficult times.
Alex Scullion
Chairman
Hetton Town Trust
Charity Registration No. 520822
HETTON TOWN TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
HETTON TOWN TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr W A Scullion |
|---|---|
| Mrs J Caterer | |
| Mrs D Turner | |
| J Price | |
| R Scott | |
| R Heron | |
| B Malekpour | |
| Cllr J Blackburn | |
| Cllr K Pearson | |
| A Wilkinson | |
| Mr D Gardner | |
| Cllr C Rowntree | |
| Cllr K Rowham | |
| Charity number | 520822 |
| Principal address | The Hetton Centre |
| Welfare Road | |
| Hetton-Le-Hole | |
| Tyne And Wear | |
| United Kingdom | |
| DH5 9NE | |
| Independent examiner | Yasmin Bari (FCA) |
| Bede House | |
| 3 Belmont Business Park | |
| Durham | |
| United Kingdom | |
| Solicitors | Mitchell Dodds |
| 208 Park View | |
| Whitley Bay | |
| Tyne And Wear | |
| United Kingdom | |
| NE26 3QS |
HETTON TOWN TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 18 |
HETTON TOWN TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The object of the Charity is defined as the provision of a recreational,social and educational centre for the benefit of the inhabitants of the area, and particular those members of the mining community.
It achieves these objects through the provision of :
-
A nursery for young children;
-
A cafe which provided snacks and meals from 8am to 3pm;
-
A function room with bar and two meeting rooms which can be used by local individuals or groups in the pursuance of business or pleasure;
-
A full size snooker table; and,
-
A top class football facility for teams to play regular fixtures.
Public benefit
The charity provides a recreational, social and educational centre. This provides a benefit to the inhabitants of the local community, and is managed by members of the local community. The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Hetton Town Trust and Hetton Centre Trading
This financial year has been challenging for many reasons. The pandemic brought a complete shutdown of the Hetton Centre which meant that we were not able to trade and staff were furloughed.
Our manager Kim worked from home throughout to carry out admin duties as necessary. This included accounting duties, wages etc. We owe our thanks to Kim for her excellent management throughout this difficult time.
Cafe
As I reported in the 2019/2020 report, the café had continued to accumulate losses that proved to be unsustainable despite best efforts by staff. As a result, it was decided to close the café and make café staff redundant. This was carried out with the advice of our HR advisors and all staff received redundancy payments commensurate with their service. The decision was not taken lightly but was necessary to limit further loss. The café area was thoroughly cleaned, and all useable food stock was gifted to local foodbanks to assist with their efforts to ensure that those in need didn’t go without.
Bar/Function room/Meeting rooms
These areas were unable to open and therefore could not trade.
- 1 -
HETTON TOWN TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Football
No games were played throughout the pandemic. We agreed a reduced sum from SAFC to cover the basic costs of maintaining the building.
Nursery.
The nursery provided childcare for essential workers. Because of the limited access to the building, parents and guardians were met at the entrance in compliance with social distancing advice. Nursery staff and management are to be complimented for the way that this was implemented.
Financial review
The notes to the accounts disclose the assets and liabilities of he organisation attributable to the various funds by type.
Unrestricted funds amount to £49.3k ( 2020: £58.5k) virtually all of which is freely available.
The trustees have determined that the appropriate level of free reserves which are not invested in tangible fixed assets should be equivalent to four months expenditure, approximately £40k. Free reserves at the year end were in excess of this amount, but the Trustees are cognisant of the future requirement to re-invest in the fabric of the facility and its equipment to satisfy the needs and requirements of our users. This will involve the utilisation of annual accumulated surpluses.
Our aim is to sustain Reserves by means of annual operating surpluses and judicious management of our resources.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Risk management
The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees are responsible for the management of the risks faced by the Organisation. Detailed considerations of risk are reviewed by the Board on an ongoing basis at the monthly management meetings. Risks are identified, assessed and controls established throughout the year.
The key controls used by the charity include;
-
Formal agendas for all Committee and Board activity;
-
Detailed terms of reference for all committees;
-
Comprehensive strategic planning, budgeting and management accounting;
-
Established organisational structure and lines of reporting;
-
Formal written policies;
-
Clear authorisation and approval levels.
Through the risk management processes established for the organisation, the Board are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable assurance that major risks have been adequately managed.
- 2 -
HETTON TOWN TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
The Future
Any progress will depend on how the pandemic situation plays out. There is no timeline that can be relied on to plan ahead. We depend on social interaction, functions, bar, meeting rooms and football are our business. As soon as we see a green light, we will be ready to commence operations. This cannot come too soon and constructive enthusiastic input from staff and trustees has never been more important.
Sincere thanks to all who have supported our efforts through difficult times.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Hetton Town Trust replaced the organisation formerly know as Eppleton Colliery Welfare when it ceased trading on 18th March 2003.
The Trust Deed governing Hetton Town Trust was updated in May 2004.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr W A Scullion Mrs J Caterer Mrs D Turner J Price R Scott R Heron B Malekpour Cllr J Blackburn Cllr K Pearson A Wilkinson Mr D Gardner Cllr C Rowntree Cllr K Rowham
Recruitment and appointment of new trustees
Procedures for the appointment and election of new trustees are set out in the trust deed.
Organisational structure
The organisation will be governed by a maximum of 14 nominated trustees, together wit 2 co-opted trustees where applicable.
The trustees' report was approved by the Board of Trustees.
Mr W A Scullion Trustee
Dated: 19 January 2022
- 3 -
HETTON TOWN TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HETTON TOWN TRUST
I report to the trustees on my examination of the financial statements of Hetton Town Trust (the charity) for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Yasmin Bari FCA
Azets Audit Services
Bede House 3 Belmont Business Park Durham DH1 1TW United Kingdom
Dated: 19 January 2022
- 4 -
| Total | 2020 | £ | 1,320 | 123,225 | 177 | 125,087 | 249,809 | 184,007 | 60,939 | 72 | 57 | 245,075 | 4,734 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted | funds | 2020 | £ | - | - | - | - | - | - | - | - | 57 | 57 | (57) | |||||
| Total Unrestricted Unrestricted | funds funds |
general Cafe |
2021 2020 2020 |
£ £ £ |
63,342 - 1,320 |
22,392 78,217 45,008 |
49 86 91 |
1,143 125,087 - |
86,926 203,390 46,419 |
55,138 184,007 - |
40,956 - 60,939 |
63 72 - |
49 - - |
96,206 184,079 60,939 |
(9,280) 19,311 (14,520) |
||||
| Restricted | funds | 2021 | £ | - | - | - | - | - | - | - | - | 49 | 49 | (49) | |||||
| Unrestricted Unrestricted | funds funds |
general Cafe |
2021 2021 |
£ £ |
63,342 - |
22,110 282 |
29 20 |
1,143 - |
86,624 302 |
55,138 - |
- 40,956 |
63 - |
- - |
55,201 40,956 |
31,423 (40,654) |
||||
| Notes | 3 | 4 | 5 | 6 | 7 | 7 | 7 | 7 | |||||||||||
| Income and endowments from: | Donations and legacies | Charitable activities | Investments | Other income | Total income | Expenditure on: | Charitable activities | Facilities | Cafe | Bar | Community fund | Total charitable expenditure | Net incoming/(outgoing) resources before | transfers |
| 4,734 | - | 4,734 | 54,153 | 58,887 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (57) | - | (57) | 381 | 324 | ||||||
| (14,520) | 14,520 | - | - | - | ||||||
| 19,311 | (14,520) | 4,791 | 53,772 | 58,563 | ||||||
| (9,280) | - | (9,280) | 58,888 | 49,608 | ||||||
| (49) | - | (49) | 324 | 275 | ||||||
| Net incoming/(outgoing) resources before | transfers 31,423 (40,654) |
Gross transfers between funds (40,654) 40,654 |
Net (expenditure)/income for the year/ | Net movement in funds (9,231) - |
Fund balances at 1 April 2020 58,564 - |
Fund balances at 31 March 2021 49,333 - |
The statement of financial activities includes all gains and losses recognised in the year. | All income and expenditure derive from continuing activities. |
HETTON TOWN TRUST
BALANCE SHEET
AS AT 31 MARCH 2021
| 2021 Notes £ Fixed assets Tangible assets 11 Investments 12 Current assets Stocks 13 - Debtors 14 28,664 Cash at bank and in hand 43,970 72,634 Creditors: amounts falling due within one year 15 (35,645) Net current assets Total assets less current liabilities Income funds Restricted funds 16 Designated funds - Bar 17 38,765 General unrestricted funds 10,568 |
2020 £ £ 12,617 2 12,619 1,000 44,281 36,838 82,119 (38,502) 36,989 49,608 275 48,765 9,798 49,333 49,608 |
£ 15,268 2 |
|---|---|---|
| 15,270 43,617 |
||
| 58,887 | ||
| 324 58,563 |
||
| 58,887 |
The financial statements were approved by the Trustees on 19 January 2022
| Mr W A Scullion | J Price |
|---|---|
| Trustee | Trustee |
- 7 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
Hetton Town Trust is a public benefit entity under FRS 102.
1.1 Accounting convention
The financial statements have been prepared in accordance with 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, 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 financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 8 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.5 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 9 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.11 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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 estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Unrestricted funds funds general Cafe 2021 2021 £ £ Government grants receivable 63,342 - For the year ended 31 March 2020 - 1,320 |
Total 2021 £ 63,342 |
Total 2020 £ 1,320 |
|---|---|---|
| 1,320 |
- 10 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 3 Donations and legacies Grants receivable for core activities Sunderland CC - Covid Grants Job Retention Scheme Grants Other |
43,350 19,992 - 63,342 |
- - - - |
(Continued) 43,350 - 19,992 - - 1,320 63,342 1,320 |
(Continued) 43,350 - 19,992 - - 1,320 63,342 1,320 |
|---|---|---|---|---|
| 1,320 |
- 11 -
| Total | 2020 | £ | 45,008 | 23,200 | 2,393 | 20,930 | 8,695 | 22,999 | 123,225 | 78,217 | 45,008 | 123,225 | 78,217 | 45,008 | 123,225 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cafe | 2020 | £ | 45,008 | - | - | - | - | - | 45,008 | - | 45,008 | 45,008 | |||||||||||
| Facilities | 2020 | £ | - | 23,200 | 2,393 | 20,930 | 8,695 | 22,999 | 78,217 | 78,217 | - | 78,217 | |||||||||||
| Total | 2021 | £ | 282 | 14,438 | 720 | - | 3,358 | 3,594 | 22,392 | 22,110 | 282 | 22,392 | |||||||||||
| Cafe | 2021 | £ | 282 | - | - | - | - | - | 282 | - | 282 | 282 | - | 45,008 | 45,008 | ||||||||
| Facilities | 2021 | £ | - | 14,438 | 720 | - | 3,358 | 3,594 | 22,110 | 22,110 | - | 22,110 | 78,217 | - | 78,217 | ||||||||
| Charitable activities | Sales within charitable activities | Facilities hire | Refreshments | Hetton Centre Trading Limited facilities recharge | Charitable rental income | Room hire | Analysis by fund | Unrestricted funds - General | Unrestricted funds - Cafe | For the year ended 31 March 2020 | Unrestricted funds - general | Unrestricted funds - Cafe | |||||||||||
| 4 |
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
5 Investments
| Unrestricted | Unrestricted | Total | Unrestricted | Unrestricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| general | Cafe | general | Cafe | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| Interest receivable | 29 | 20 | 49 | 86 | 91 | 177 |
6 Other income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Insurance claim | 1,143 | 125,087 |
- 13 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
7 Charitable activities
| Facilities 2021 £ Staff costs 29,777 Depreciation and impairment 1,143 Consumables - Light & heat 2,816 Postage, stationery & telephone 468 Repairs, renewals & cleaning 935 Ground maintenance 2,689 Rates & water 3,490 Insurance 940 Utilities recharge - Travelling - Sundries - Refreshments - Hetton Centre Trading Limited facilities recharge 8,372 50,630 Share of support costs (see note 8) 3,158 Share of governance costs (see note 8) 1,350 55,138 Analysis by fund Unrestricted funds - general 55,138 Unrestricted funds - Cafe - Restricted funds - 55,138 For the year ended 31 March 2020 Unrestricted funds - general 184,007 Unrestricted funds - Cafe - Restricted funds - 184,007 |
Cafe | Bar Community fund 2021 2021 £ £ - - 63 49 - - - - - - - - - - - - - - - - - - - - - - - - 63 49 - - - - 63 49 63 - - - - 49 63 49 72 - - - - 57 72 57 |
Total 2021 £ 62,277 2,651 3,061 2,816 857 1,734 2,689 3,490 1,544 - - 65 - 8,372 89,556 3,950 2,700 96,206 55,201 40,956 49 96,206 |
Total 2020 £ 62,097 1,731 18,496 12,186 1,162 3,741 126,852 5,164 5,062 555 146 467 2,083 - |
|---|---|---|---|---|
| 2021 £ 32,500 1,396 3,061 - 389 799 - - 604 - - 65 - - 38,814 792 1,350 40,956 - 40,956 - 40,956 - 60,939 - 60,939 |
||||
| 239,742 3,358 1,975 |
||||
| 245,075 | ||||
| 184,079 60,939 57 |
||||
| 245,075 | ||||
| 184,079 60,939 57 |
||||
| 245,075 |
- 14 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 8 Support costs Support costs Governance costs £ £ Professional fees 1,258 - Business consultancy 1,864 - Bank charges 328 - Health & safety 500 - Independent examiners fee - 2,700 3,950 2,700 Analysed between Charitable activities 3,950 2,700 |
2021 Support costs Governance costs £ £ £ 1,258 656 - 1,864 1,305 - 328 897 - 500 500 - 2,700 - 1,975 6,650 3,358 1,975 6,650 3,358 1,975 |
2020 £ 656 1,305 897 500 1,975 |
|---|---|---|
| 5,333 | ||
| 5,333 |
9 Trustees
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
Trustees were given allowance for lunches while working at the Hetton Centre totalling £Nil (2020 : £59)
- 15 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
10 Employees
Number of employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Cafe staff | 2 | 5 |
| Facilities manager | 1 | 1 |
| Cleaners | 1 | 1 |
| 4 | 7 | |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 61,110 | 60,340 |
| Social security costs | 268 | 636 |
| Other pension costs | 899 | 1,121 |
| 62,277 | 62,097 |
There were no employees whose annual remuneration was £60,000 or more.
11 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Fixtures and fittings | |
| £ | |
| Cost | |
| At 1 April 2020 | 40,281 |
| At 31 March 2021 | 40,281 |
| Depreciation and impairment | |
| At 1 April 2020 | 25,013 |
| Depreciation charged in the year | 2,651 |
| At 31 March 2021 | 27,664 |
| Carrying amount | |
| At 31 March 2021 | 12,617 |
| At 31 March 2020 | 15,268 |
2.3945 hectares of land remains vested with the Official Custodian for Charities in trust for the Charity. A snooker table originating from Eppleton CW, and written down to £nil net book value , is used by the Charity, but not reflected in the above table.
- 16 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
12 Fixed asset investments
| Cost or valuation At 1 April 2020 & 31 March 2021 Carrying amount At 31 March 2021 At 31 March 2020 13 Stocks Finished goods and goods for resale 14 Debtors Amounts falling due within one year: Trade debtors Other debtors 15 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
Shares in group undertakings £ 2 2 2 2021 2020 £ £ - 1,000 2021 2020 £ £ 12,026 7,008 16,638 37,273 28,664 44,281 2021 2020 £ £ 535 228 119 541 34,991 37,733 35,645 38,502 |
Shares in group undertakings £ 2 2 2 2021 2020 £ £ - 1,000 2021 2020 £ £ 12,026 7,008 16,638 37,273 28,664 44,281 2021 2020 £ £ 535 228 119 541 34,991 37,733 35,645 38,502 |
|---|---|---|
| £ 2 |
||
| 2 | ||
| 2 | ||
| 2020 £ 1,000 |
||
| 2020 £ 7,008 37,273 |
||
| 44,281 | ||
| 2020 £ 228 541 37,733 |
||
| 38,502 |
- 17 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance at | Resources | Balance at | Resources | Balance at | |||
|---|---|---|---|---|---|---|---|
| 1 | April 2019 | expended | 1 April 2020 | expended | 31 | March 2021 | |
| £ | £ | £ | £ | £ | |||
| Community Fund | 381 | (57) | 324 | (49) | 275 |
17 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Transfers | Balance at | |
| 1 April 2020 | resources | expended | 31 March 2021 | ||
| £ | £ | £ | £ | £ | |
| Bar facility | 48,765 | - | - | (10,000) | 38,765 |
| Cafe Trading | - | 302 | (40,957) | 40,655 | - |
| 48,765 | 302 | (40,957) | 30,655 | 38,765 |
18 Related party transactions
Hetton Centre Trading Limited (HCT) is a wholly owned trading subsidiary of the charity. HCT trades from the charity's premises. During the year HCT was charged £Nil (2020: £20,930) for management, insurance and utilities costs. In addition HCT charged HTT £8,372, (2020: £Nil) a facility fee. There were no Gift Aid payments receivable from HCT for the year (2020: £nil). At the year end HCT owed the charity £15,243 (2020: £17,463).
- 18 -
Charity Registration No. 520822
HETTON TOWN TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
HETTON TOWN TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr W A Scullion |
|---|---|
| Mrs J Caterer | |
| Mrs D Turner | |
| J Price | |
| R Scott | |
| R Heron | |
| B Malekpour | |
| Cllr J Blackburn | |
| Cllr K Pearson | |
| A Wilkinson | |
| Mr D Gardner | |
| Cllr C Rowntree | |
| Cllr K Rowham | |
| Charity number | 520822 |
| Principal address | The Hetton Centre |
| Welfare Road | |
| Hetton-Le-Hole | |
| Tyne And Wear | |
| United Kingdom | |
| DH5 9NE | |
| Independent examiner | Yasmin Bari (FCA) |
| Bede House | |
| 3 Belmont Business Park | |
| Durham | |
| United Kingdom | |
| Solicitors | Mitchell Dodds |
| 208 Park View | |
| Whitley Bay | |
| Tyne And Wear | |
| United Kingdom | |
| NE26 3QS |
HETTON TOWN TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 18 |
HETTON TOWN TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The object of the Charity is defined as the provision of a recreational,social and educational centre for the benefit of the inhabitants of the area, and particular those members of the mining community.
It achieves these objects through the provision of :
-
A nursery for young children;
-
A cafe which provided snacks and meals from 8am to 3pm;
-
A function room with bar and two meeting rooms which can be used by local individuals or groups in the pursuance of business or pleasure;
-
A full size snooker table; and,
-
A top class football facility for teams to play regular fixtures.
Public benefit
The charity provides a recreational, social and educational centre. This provides a benefit to the inhabitants of the local community, and is managed by members of the local community. The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Hetton Town Trust and Hetton Centre Trading
This financial year has been challenging for many reasons. The pandemic brought a complete shutdown of the Hetton Centre which meant that we were not able to trade and staff were furloughed.
Our manager Kim worked from home throughout to carry out admin duties as necessary. This included accounting duties, wages etc. We owe our thanks to Kim for her excellent management throughout this difficult time.
Cafe
As I reported in the 2019/2020 report, the café had continued to accumulate losses that proved to be unsustainable despite best efforts by staff. As a result, it was decided to close the café and make café staff redundant. This was carried out with the advice of our HR advisors and all staff received redundancy payments commensurate with their service. The decision was not taken lightly but was necessary to limit further loss. The café area was thoroughly cleaned, and all useable food stock was gifted to local foodbanks to assist with their efforts to ensure that those in need didn’t go without.
Bar/Function room/Meeting rooms
These areas were unable to open and therefore could not trade.
- 1 -
HETTON TOWN TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Football
No games were played throughout the pandemic. We agreed a reduced sum from SAFC to cover the basic costs of maintaining the building.
Nursery.
The nursery provided childcare for essential workers. Because of the limited access to the building, parents and guardians were met at the entrance in compliance with social distancing advice. Nursery staff and management are to be complimented for the way that this was implemented.
Financial review
The notes to the accounts disclose the assets and liabilities of he organisation attributable to the various funds by type.
Unrestricted funds amount to £49.3k ( 2020: £58.5k) virtually all of which is freely available.
The trustees have determined that the appropriate level of free reserves which are not invested in tangible fixed assets should be equivalent to four months expenditure, approximately £40k. Free reserves at the year end were in excess of this amount, but the Trustees are cognisant of the future requirement to re-invest in the fabric of the facility and its equipment to satisfy the needs and requirements of our users. This will involve the utilisation of annual accumulated surpluses.
Our aim is to sustain Reserves by means of annual operating surpluses and judicious management of our resources.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Risk management
The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees are responsible for the management of the risks faced by the Organisation. Detailed considerations of risk are reviewed by the Board on an ongoing basis at the monthly management meetings. Risks are identified, assessed and controls established throughout the year.
The key controls used by the charity include;
-
Formal agendas for all Committee and Board activity;
-
Detailed terms of reference for all committees;
-
Comprehensive strategic planning, budgeting and management accounting;
-
Established organisational structure and lines of reporting;
-
Formal written policies;
-
Clear authorisation and approval levels.
Through the risk management processes established for the organisation, the Board are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable assurance that major risks have been adequately managed.
- 2 -
HETTON TOWN TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
The Future
Any progress will depend on how the pandemic situation plays out. There is no timeline that can be relied on to plan ahead. We depend on social interaction, functions, bar, meeting rooms and football are our business. As soon as we see a green light, we will be ready to commence operations. This cannot come too soon and constructive enthusiastic input from staff and trustees has never been more important.
Sincere thanks to all who have supported our efforts through difficult times.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Hetton Town Trust replaced the organisation formerly know as Eppleton Colliery Welfare when it ceased trading on 18th March 2003.
The Trust Deed governing Hetton Town Trust was updated in May 2004.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr W A Scullion Mrs J Caterer Mrs D Turner J Price R Scott R Heron B Malekpour Cllr J Blackburn Cllr K Pearson A Wilkinson Mr D Gardner Cllr C Rowntree Cllr K Rowham
Recruitment and appointment of new trustees
Procedures for the appointment and election of new trustees are set out in the trust deed.
Organisational structure
The organisation will be governed by a maximum of 14 nominated trustees, together wit 2 co-opted trustees where applicable.
The trustees' report was approved by the Board of Trustees.
Mr W A Scullion Trustee
Dated: 19 January 2022
- 3 -
HETTON TOWN TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HETTON TOWN TRUST
I report to the trustees on my examination of the financial statements of Hetton Town Trust (the charity) for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Yasmin Bari FCA
Azets Audit Services
Bede House 3 Belmont Business Park Durham DH1 1TW United Kingdom
Dated: 19 January 2022
- 4 -
| Total | 2020 | £ | 1,320 | 123,225 | 177 | 125,087 | 249,809 | 184,007 | 60,939 | 72 | 57 | 245,075 | 4,734 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted | funds | 2020 | £ | - | - | - | - | - | - | - | - | 57 | 57 | (57) | |||||
| Total Unrestricted Unrestricted | funds funds |
general Cafe |
2021 2020 2020 |
£ £ £ |
63,342 - 1,320 |
22,392 78,217 45,008 |
49 86 91 |
1,143 125,087 - |
86,926 203,390 46,419 |
55,138 184,007 - |
40,956 - 60,939 |
63 72 - |
49 - - |
96,206 184,079 60,939 |
(9,280) 19,311 (14,520) |
||||
| Restricted | funds | 2021 | £ | - | - | - | - | - | - | - | - | 49 | 49 | (49) | |||||
| Unrestricted Unrestricted | funds funds |
general Cafe |
2021 2021 |
£ £ |
63,342 - |
22,110 282 |
29 20 |
1,143 - |
86,624 302 |
55,138 - |
- 40,956 |
63 - |
- - |
55,201 40,956 |
31,423 (40,654) |
||||
| Notes | 3 | 4 | 5 | 6 | 7 | 7 | 7 | 7 | |||||||||||
| Income and endowments from: | Donations and legacies | Charitable activities | Investments | Other income | Total income | Expenditure on: | Charitable activities | Facilities | Cafe | Bar | Community fund | Total charitable expenditure | Net incoming/(outgoing) resources before | transfers |
| 4,734 | - | 4,734 | 54,153 | 58,887 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (57) | - | (57) | 381 | 324 | ||||||
| (14,520) | 14,520 | - | - | - | ||||||
| 19,311 | (14,520) | 4,791 | 53,772 | 58,563 | ||||||
| (9,280) | - | (9,280) | 58,888 | 49,608 | ||||||
| (49) | - | (49) | 324 | 275 | ||||||
| Net incoming/(outgoing) resources before | transfers 31,423 (40,654) |
Gross transfers between funds (40,654) 40,654 |
Net (expenditure)/income for the year/ | Net movement in funds (9,231) - |
Fund balances at 1 April 2020 58,564 - |
Fund balances at 31 March 2021 49,333 - |
The statement of financial activities includes all gains and losses recognised in the year. | All income and expenditure derive from continuing activities. |
HETTON TOWN TRUST
BALANCE SHEET
AS AT 31 MARCH 2021
| 2021 Notes £ Fixed assets Tangible assets 11 Investments 12 Current assets Stocks 13 - Debtors 14 28,664 Cash at bank and in hand 43,970 72,634 Creditors: amounts falling due within one year 15 (35,645) Net current assets Total assets less current liabilities Income funds Restricted funds 16 Designated funds - Bar 17 38,765 General unrestricted funds 10,568 |
2020 £ £ 12,617 2 12,619 1,000 44,281 36,838 82,119 (38,502) 36,989 49,608 275 48,765 9,798 49,333 49,608 |
£ 15,268 2 |
|---|---|---|
| 15,270 43,617 |
||
| 58,887 | ||
| 324 58,563 |
||
| 58,887 |
The financial statements were approved by the Trustees on 19 January 2022
| Mr W A Scullion | J Price |
|---|---|
| Trustee | Trustee |
- 7 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
Hetton Town Trust is a public benefit entity under FRS 102.
1.1 Accounting convention
The financial statements have been prepared in accordance with 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, 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 financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 8 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.5 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 9 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.11 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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 estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Unrestricted funds funds general Cafe 2021 2021 £ £ Government grants receivable 63,342 - For the year ended 31 March 2020 - 1,320 |
Total 2021 £ 63,342 |
Total 2020 £ 1,320 |
|---|---|---|
| 1,320 |
- 10 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 3 Donations and legacies Grants receivable for core activities Sunderland CC - Covid Grants Job Retention Scheme Grants Other |
43,350 19,992 - 63,342 |
- - - - |
(Continued) 43,350 - 19,992 - - 1,320 63,342 1,320 |
(Continued) 43,350 - 19,992 - - 1,320 63,342 1,320 |
|---|---|---|---|---|
| 1,320 |
- 11 -
| Total | 2020 | £ | 45,008 | 23,200 | 2,393 | 20,930 | 8,695 | 22,999 | 123,225 | 78,217 | 45,008 | 123,225 | 78,217 | 45,008 | 123,225 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cafe | 2020 | £ | 45,008 | - | - | - | - | - | 45,008 | - | 45,008 | 45,008 | |||||||||||
| Facilities | 2020 | £ | - | 23,200 | 2,393 | 20,930 | 8,695 | 22,999 | 78,217 | 78,217 | - | 78,217 | |||||||||||
| Total | 2021 | £ | 282 | 14,438 | 720 | - | 3,358 | 3,594 | 22,392 | 22,110 | 282 | 22,392 | |||||||||||
| Cafe | 2021 | £ | 282 | - | - | - | - | - | 282 | - | 282 | 282 | - | 45,008 | 45,008 | ||||||||
| Facilities | 2021 | £ | - | 14,438 | 720 | - | 3,358 | 3,594 | 22,110 | 22,110 | - | 22,110 | 78,217 | - | 78,217 | ||||||||
| Charitable activities | Sales within charitable activities | Facilities hire | Refreshments | Hetton Centre Trading Limited facilities recharge | Charitable rental income | Room hire | Analysis by fund | Unrestricted funds - General | Unrestricted funds - Cafe | For the year ended 31 March 2020 | Unrestricted funds - general | Unrestricted funds - Cafe | |||||||||||
| 4 |
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
5 Investments
| Unrestricted | Unrestricted | Total | Unrestricted | Unrestricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| general | Cafe | general | Cafe | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| Interest receivable | 29 | 20 | 49 | 86 | 91 | 177 |
6 Other income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Insurance claim | 1,143 | 125,087 |
- 13 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
7 Charitable activities
| Facilities 2021 £ Staff costs 29,777 Depreciation and impairment 1,143 Consumables - Light & heat 2,816 Postage, stationery & telephone 468 Repairs, renewals & cleaning 935 Ground maintenance 2,689 Rates & water 3,490 Insurance 940 Utilities recharge - Travelling - Sundries - Refreshments - Hetton Centre Trading Limited facilities recharge 8,372 50,630 Share of support costs (see note 8) 3,158 Share of governance costs (see note 8) 1,350 55,138 Analysis by fund Unrestricted funds - general 55,138 Unrestricted funds - Cafe - Restricted funds - 55,138 For the year ended 31 March 2020 Unrestricted funds - general 184,007 Unrestricted funds - Cafe - Restricted funds - 184,007 |
Cafe | Bar Community fund 2021 2021 £ £ - - 63 49 - - - - - - - - - - - - - - - - - - - - - - - - 63 49 - - - - 63 49 63 - - - - 49 63 49 72 - - - - 57 72 57 |
Total 2021 £ 62,277 2,651 3,061 2,816 857 1,734 2,689 3,490 1,544 - - 65 - 8,372 89,556 3,950 2,700 96,206 55,201 40,956 49 96,206 |
Total 2020 £ 62,097 1,731 18,496 12,186 1,162 3,741 126,852 5,164 5,062 555 146 467 2,083 - |
|---|---|---|---|---|
| 2021 £ 32,500 1,396 3,061 - 389 799 - - 604 - - 65 - - 38,814 792 1,350 40,956 - 40,956 - 40,956 - 60,939 - 60,939 |
||||
| 239,742 3,358 1,975 |
||||
| 245,075 | ||||
| 184,079 60,939 57 |
||||
| 245,075 | ||||
| 184,079 60,939 57 |
||||
| 245,075 |
- 14 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 8 Support costs Support costs Governance costs £ £ Professional fees 1,258 - Business consultancy 1,864 - Bank charges 328 - Health & safety 500 - Independent examiners fee - 2,700 3,950 2,700 Analysed between Charitable activities 3,950 2,700 |
2021 Support costs Governance costs £ £ £ 1,258 656 - 1,864 1,305 - 328 897 - 500 500 - 2,700 - 1,975 6,650 3,358 1,975 6,650 3,358 1,975 |
2020 £ 656 1,305 897 500 1,975 |
|---|---|---|
| 5,333 | ||
| 5,333 |
9 Trustees
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
Trustees were given allowance for lunches while working at the Hetton Centre totalling £Nil (2020 : £59)
- 15 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
10 Employees
Number of employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Cafe staff | 2 | 5 |
| Facilities manager | 1 | 1 |
| Cleaners | 1 | 1 |
| 4 | 7 | |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 61,110 | 60,340 |
| Social security costs | 268 | 636 |
| Other pension costs | 899 | 1,121 |
| 62,277 | 62,097 |
There were no employees whose annual remuneration was £60,000 or more.
11 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Fixtures and fittings | |
| £ | |
| Cost | |
| At 1 April 2020 | 40,281 |
| At 31 March 2021 | 40,281 |
| Depreciation and impairment | |
| At 1 April 2020 | 25,013 |
| Depreciation charged in the year | 2,651 |
| At 31 March 2021 | 27,664 |
| Carrying amount | |
| At 31 March 2021 | 12,617 |
| At 31 March 2020 | 15,268 |
2.3945 hectares of land remains vested with the Official Custodian for Charities in trust for the Charity. A snooker table originating from Eppleton CW, and written down to £nil net book value , is used by the Charity, but not reflected in the above table.
- 16 -
HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
12 Fixed asset investments
| Cost or valuation At 1 April 2020 & 31 March 2021 Carrying amount At 31 March 2021 At 31 March 2020 13 Stocks Finished goods and goods for resale 14 Debtors Amounts falling due within one year: Trade debtors Other debtors 15 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
Shares in group undertakings £ 2 2 2 2021 2020 £ £ - 1,000 2021 2020 £ £ 12,026 7,008 16,638 37,273 28,664 44,281 2021 2020 £ £ 535 228 119 541 34,991 37,733 35,645 38,502 |
Shares in group undertakings £ 2 2 2 2021 2020 £ £ - 1,000 2021 2020 £ £ 12,026 7,008 16,638 37,273 28,664 44,281 2021 2020 £ £ 535 228 119 541 34,991 37,733 35,645 38,502 |
|---|---|---|
| £ 2 |
||
| 2 | ||
| 2 | ||
| 2020 £ 1,000 |
||
| 2020 £ 7,008 37,273 |
||
| 44,281 | ||
| 2020 £ 228 541 37,733 |
||
| 38,502 |
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HETTON TOWN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance at | Resources | Balance at | Resources | Balance at | |||
|---|---|---|---|---|---|---|---|
| 1 | April 2019 | expended | 1 April 2020 | expended | 31 | March 2021 | |
| £ | £ | £ | £ | £ | |||
| Community Fund | 381 | (57) | 324 | (49) | 275 |
17 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Transfers | Balance at | |
| 1 April 2020 | resources | expended | 31 March 2021 | ||
| £ | £ | £ | £ | £ | |
| Bar facility | 48,765 | - | - | (10,000) | 38,765 |
| Cafe Trading | - | 302 | (40,957) | 40,655 | - |
| 48,765 | 302 | (40,957) | 30,655 | 38,765 |
18 Related party transactions
Hetton Centre Trading Limited (HCT) is a wholly owned trading subsidiary of the charity. HCT trades from the charity's premises. During the year HCT was charged £Nil (2020: £20,930) for management, insurance and utilities costs. In addition HCT charged HTT £8,372, (2020: £Nil) a facility fee. There were no Gift Aid payments receivable from HCT for the year (2020: £nil). At the year end HCT owed the charity £15,243 (2020: £17,463).
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