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2022-03-31-accounts

Charity registration number 520822

HETTON TOWN TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

HETTON TOWN TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr W A Scullion
J Price
I Scott (Appointed 1 January 2022)
R Heron
B Malekpour
Cllr J Blackburn
Cllr K Pearson
A Wilkinson
Mr D Gardner
T Dodds (Appointed 1 August 2021)
C Bell (Appointed 1 August 2021)
J Thompson (Appointed 1 October 2021)
Cllr D Thomas (Appointed 1 May 2022)
Charity number 520822
Principal address The Hetton Centre
Welfare Road
Hetton-Le-Hole
Tyne And Wear
United Kingdom
DH5 9NE
Independent examiner Ian Whitfield FCA
Azets Audit Services
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 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

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 charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

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:

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 continued to be challenging. Business and trade has been slow, because of the pandemic and the general cost of living. Now we are getting back to normal, business is still slow, bookings are down because people are preferring to do zoom meetings rather than face to face, the number of functions are also down despite being proactive in bringing in more business.

We owe our thanks to Kim our Manager for all her hard work throughout these challenging times.

Cafe

In November 2021, we took the decision to reopen the café space under a new name The Centre Spot Café. We created a steering group who managed this project. We are pleased to say the café is now very busy and has a happy staffing team. The café has been so successful we have had to employ an additional member of staff and our thanks go to the entire café staff team for their continued hard work. The Centre Spot café now has a Facebook page, which is used daily, and we realise this has contributed to the increase of football to the café.

Due to the cost of living increases over the past year a decision was taken to increase prices, our café’s loyal

customers understood this and fully supported the decision.

Bar/Function room/Meeting rooms

Functions returned 1st August 2021 following the yearlong closure due to the pandemic, we had a busy couple of months until December 2021 with many functions. The beginning of 2022 brought us quiet times, not as many functions had been booked, however we are actively seeking to fully utilise the function room. In an effort to bring in more business we are looking to use social media as a tool to reach the wider public and increase function bookings.

HETTON TOWN TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Football

We saw the return of the football in September 2021, with the Men’s U21 team not having a successful season, which meant less spectators attended the games. SAFC Women’s team were promoted which resulted in larger attendance to games.

The old floodlight towers which had been in place for 30 years were replaced along with a more up to date lighting system within the ground. This was fully funded by Sunderland AFC, and we are very grateful for their investment and their commitment. Other improvements funded by SAFC were the replacement of the handrail barriers surrounding the pitch and all year-round pitch renovations.

Nursery

The nursery continues to be successful; they care for children from 6months to 5 years Monday to Friday 7am – 6pm. With the relaxation of the COVID restrictions parents and guardians have been allowed back into the centre to drop off and collect their children.

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 £42.4k (2021: £49.3k) 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 £36k. 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 normal 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 consider 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. However, as at 31 March 2022 the criteria was not met. General unrestricted funds only amounted to £3.7k (2021 £10.6k) and required level of funds to meet three to six months expenditure would be between £19.1k to £38.2k, as such there is insufficient general unrestricted funds. The trustees consider that the general unrestricted activities have the continued support from the Designated funds in the event of a significant drop in funding and any shortfall in general unrestricted funds would be met.

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;

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.

HETTON TOWN TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The Future

With the relaxation of COVID restrictions we can now look to initially get back to where we were previously and then increase business, but appreciate that COVID is still with us, so we continue to work with a cautious approach.

We depend on social interactions, café footfall, bar & functions, meeting rooms and football as our core business. We are now actively seeking to increase business during these continued difficult times, and we thank all staff who have stepped up to the plate and have worked tirelessly for the success of the trust. We also acknowledge the constructive input from trustees in helping the business recover from the pandemic.

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: 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 (Resigned 11 May 2021)
Mrs D Turner (Resigned 1 July 2021)
J Price
I Scott (Appointed 1 January 2022)
R Heron
B Malekpour
Cllr J Blackburn
Cllr K Pearson
A Wilkinson
Mr D Gardner
Cllr C Rowntree (Resigned 1 January 2022)
Cllr K Rowham (Resigned 1 May 2022)
T Dodds (Appointed 1 August 2021)
C Bell (Appointed 1 August 2021)
J Thompson (Appointed 1 October 2021)
Cllr D Thomas (Appointed 1 May 2022)

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 D Gardner Trustee

Dated: 16 February 2023

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 2022.

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

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:

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.

Ian Whitfield FCA

Azets Audit Services

Bede House Belmont Business Park DURHAM DH1 1TW United Kingdom

Dated: 16 February 2023

Total 2021 £ 63,342 22,392 49 1,143 86,926 55,138 40,956 63 49 96,206 (9,280)
Restricted funds 2021 £ - - - - - - - - 49 49 (49)
Total Unrestricted Unrestricted funds
funds		 general
Cafe		 2022
2021
2021		 £
£
£		 20,700
63,342
-		 80,533
22,110
282		 40
29
20		 -
1,143
-		 101,273
86,624
302		 76,488
55,138
-		 31,678
-
40,956		 53
63
-		 41
-
-		 108,260
55,201
40,956		 (6,987)
31,423
(40,654)
Restricted funds 2022 £ - - - - - - - - 41 41 (41)
Unrestricted Unrestricted funds
funds		 general
Cafe		 2022
2022		 £
£		 20,700
-		 55,269
25,264		 40
-		 -
-		 76,009
25,264		 76,488
-		 -
31,678		 53
-		 -
-		 76,541
31,678		 (532)
(6,414)
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 outgoing resources before transfers

Total 2021 £ (9,280) - (9,280) 58,888 49,608
Restricted funds 2021 £ (49) - (49) 324 275
Total Unrestricted Unrestricted funds
funds		 general
Cafe		 2022
2021
2021		 £
£
£		 (6,987)
31,423
(40,654)		 -
(40,654)
40,654		 (6,987)
(9,231)
-		 49,608
58,564
-		 42,621
49,333
-
Restricted funds 2022 £ (41) - (41) 275 234
Unrestricted Unrestricted funds
funds		 general
Cafe		 2022
2022		 Notes
£
£		 Net outgoing resources before transfers
(532)
(6,414)		 Gross transfers between funds
(6,414)
6,414		 Net expenditure for the year/ Net movement in funds
(6,946)
-		 Fund balances at 1 April 2021
49,333
-		 Fund balances at 31 March 2022
42,387
-		 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 2022

2022
Notes
£
Fixed assets
Tangible assets
11
Investments
12
Current assets
Stocks
13
1,000
Debtors
14
33,546
Cash at bank and in hand
50,166
84,712
Creditors: amounts falling due within
one year
15
(53,850)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Designated funds - Bar
17
38,649
General unrestricted funds
3,738		 2021
£
£
11,757
2
11,759
-
28,664
43,970
72,634
(35,645)
30,862
42,621
234
38,765
10,568
42,387
42,621		 £
12,617
2
12,619
36,989
49,608
275
49,333
49,608

The financial statements were approved by the Trustees on 16 February 2023

Mr W A Scullion Mr D Gardner Trustee Trustee

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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.

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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 the statement of financial activities.

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.

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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 Total
funds
general
2022 2021
£ £
Government grants receivable 20,700 63,342

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3
Donations and legacies
Grants receivable for core activities
Sunderland CC - Covid Grants
Job Retention Scheme Grants
Other		 (Continued)
-
43,350
-
19,992
20,700
-
20,700
63,342		 (Continued)
-
43,350
-
19,992
20,700
-
20,700
63,342
63,342

Total 2021 £ 282 14,438 720 - 3,358 3,594 22,392 22,110 282 22,392 22,110 282 22,392
Cafe 2021 £ 282 - - - - - 282 - 282 282
Facilities 2021 £ - 14,438 720 - 3,358 3,594 22,110 22,110 - 22,110
Total 2022 £ 25,264 17,956 625 11,184 6,511 18,993 80,533 55,269 25,264 80,533
Cafe 2022 £ 25,264 - - - - - 25,264 - 25,264 25,264 - 282 282
Facilities 2022 £ - 17,956 625 11,184 6,511 18,993 55,269 55,269 - 55,269 22,110 - 22,110
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 2021 Unrestricted funds - general Unrestricted funds - Cafe
4

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5 Investments

Unrestricted
Unrestricted
Unrestricted
Total
funds
funds
funds
general
general
Cafe
2022
2021
2021
2021
£
£
£
£
Interest receivable
40
29
20
49
Other income
Total
Unrestricted
funds
general
2022
2021
£
£
Insurance claim
-
1,143		 Unrestricted
Unrestricted
Unrestricted
Total
funds
funds
funds
general
general
Cafe
2022
2021
2021
2021
£
£
£
£
Interest receivable
40
29
20
49
Other income
Total
Unrestricted
funds
general
2022
2021
£
£
Insurance claim
-
1,143		 Total
2021
£
49
Insurance claim

6 Other income

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Charitable activities

Facilities
2022
£
Staff costs
42,944
Depreciation and
impairment
970
Consumables
-
Light & heat
13,044
Postage, stationery &
telephone
1,074
Repairs, renewals &
cleaning
11,996
Ground maintenance
1,320
Rates & water
(4,258)
Insurance
5,044
Licences
119
Travelling
255
Sundries
5
Advertising
-
Hetton Centre Trading
Limited facilities recharge
-
72,513
Share of support costs (see
note 8)
2,375
Share of governance costs
(see note 8)
1,600
76,488
Analysis by fund
Unrestricted funds -
general
76,488
Unrestricted funds - Cafe
-
Restricted funds
-
76,488
For the year ended 31 March 2021
Unrestricted funds -
general
55,138
Unrestricted funds - Cafe
-
Restricted funds
-
55,138		 Cafe Bar
Community
fund
2022
2022
£
£
-
-
53
41
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
53
41
-
-
-
-
53
41
53
-
-
-
-
41
53
41
63
-
-
-
-
49
63
49		 Total
2022
£
51,967
2,575
16,132
13,044
1,074
13,041
1,320
(4,258)
5,256
119
255
287
870
-
101,682
3,378
3,200
108,260
76,541
31,678
41
108,260		 Total
2021
£
62,277
2,651
3,061
2,816
857
1,734
2,689
3,490
1,544
-
-
65
-
8,372
2022
£
9,023
1,511
16,132
-
-
1,045
-
-
212
-
-
282
870
-
29,075
1,003
1,600
31,678
-
31,678
-
31,678
-
40,956
-
40,956
89,556
3,950
2,700
96,206
55,201
40,956
49
96,206
55,201
40,956
49
96,206

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Support costs

Support costs
Support
costs
Governance
costs
£
£
Professional fees
583
-
Business consultancy
2,354
-
Bank charges
441
-
Health & safety
-
-
Independent examiners
fee
-
3,200
3,378
3,200
Analysed between
Charitable activities
3,378
3,200		 2022Support costs Governance
costs
£
£
£
583
1,258
-
2,354
1,864
-
441
328
-
-
500
-
3,200
-
2,700
6,578
3,950
2,700
6,578
3,950
2,700		 2021
£
1,258
1,864
328
500
2,700
6,650
6,650

9 Trustees

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

Trustees were given allowance for lunches while working at the Hetton Centre totalling £Nil (2021 : £Nil)

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

10 Employees

Number of employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Cafe staff 7 2
Facilities manager 1 1
Cleaners 1 1
9 4
Employment costs 2022 2021
£ £
Wages and salaries 51,127 61,110
Social security costs - 268
Other pension costs 840 899
51,967 62,277

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 2021 40,281
Additions 1,716
At 31 March 2022 41,997
Depreciation and impairment
At 1 April 2021 27,665
Depreciation charged in the year 2,575
At 31 March 2022 30,240
Carrying amount
At 31 March 2022 11,757
At 31 March 2021 12,617

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.

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12 Fixed asset investments

Cost or valuation
At 1 April 2021 & 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021
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
Trade creditors
Other creditors
Accruals and deferred income		 Shares in group
undertakings
£
2
2
2
2022
2021
£
£
1,000
-
2022
2021
£
£
7,015
12,026
26,531
16,638
33,546
28,664
2022
2021
£
£
6,978
535
700
-
197
119
45,975
34,991
53,850
35,645		 Shares in group
undertakings
£
2
2
2
2022
2021
£
£
1,000
-
2022
2021
£
£
7,015
12,026
26,531
16,638
33,546
28,664
2022
2021
£
£
6,978
535
700
-
197
119
45,975
34,991
53,850
35,645
£
2
2
2
2021
£
-
2021
£
12,026
16,638
28,664
2021
£
535
-
119
34,991
35,645

HETTON TOWN TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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 2020 expended 1 April 2021 expended 31 March 2022
£ £ £ £ £
Community Fund 324 (49) 275 (41) 234

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 2021 resources expended 31 March 2022
£ £ £ £ £
Bar facility 38,702 - (53) - 38,649
Cafe Trading - 25,264 (31,679) 6,415 -
38,702 25,264 (31,732) 6,415 38,649

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 £10,129 (2021: £Nil) for management, insurance and utilities costs. In addition HCT charged HTT £Nil, (2021: £8,372) a facility fee. There were no Gift Aid payments receivable from HCT for the year (2021: £nil). At the year end HCT owed the charity £22,291 (2021: £15,243).