2021-03-31-accounts - West Lancashire County Scout Council

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Report ofthe Trustees	1	to	11
Report ofthe Independent Auditors	12	to	15
Statement of Financial Activities		16
Balance Sheet		17
Cash Flow Statement		18
Notes to the Cash Flow Statement		19
Notes to the Financial Statements	20	to	28

At the year end the unrestricted	f	unds in	the balance	sheet are	categori	sed as follows;
						2021	2020 f
Property and equipment used	in	providing	scouting	activities		832,199	879,894
Adventure Trust						14,182	19,607
Amounts set aside and invested		in rental	properties	and stock
market investments which aim	to	provide	a minimum	level of
income to help meet our on-going		running	costs			2,232,500	2,232,500
Other reserves to cover general running			costs, the replacement		of
county assets and to invest in	Scouting in West Lancashire					747,503	401,189
Unrestricted Funds						3,826,384	3,533,190

for the year ended 3	1 March 2	021
				2021	2020
				Unrestricted	Unrestricted
			Notes	funds f	funds E
INCOME AND ENDOWMENTS		FRONI
Charitable activities			28 3
Activity Centre and County				123,119	377,674
Investment income				70,013	76,744
Total income				193,132	454,418
EXPENDITURE ON
Raising funds			4	20,220	20,287
Charitable activities			58 6
Activity Centre and County				233,216	503,275
Total expenditure				253,436	523,562
Net gains/(losses) on	investments			353,498	~58,706i
NET INCOME/(EXPENDITURE)				293,194	(127,850)
RECONCILIATION OF FUNDS
Total funds brought	forward			3,533,190	3,661,040
TOTAL FUNDS CARRIED FORWARD				3,826,384	3,533,190

West Lancashire County S Balance Sheet 31 March 2021	cout Council
		2021	2020
		Unrestricted	Unrestricted
		funds	funds
	Notes
FIXEDASSETS
Tangible assets	10	832,199	879,894
Investments
Investments	11	1,700,132	1,344,116
Investment property	12	895,000	895,000
		3,427,331	3,119,010
CURRENT ASSETS
Stocks	13	7,374	7,944
Debtors	14	39,609	32,620
Investments	15	249,077	345,460
Cash at bank	16	428,742	337,057
		724,802	723,081
CREDITORS
Amounts falling due within one year	17	(325,749)	(308,901)
NET CURRENT ASSETS		399,053	414,180
TOTAL ASSETS LESSCURRENT
LIABILITIES		3,826,384	3,533,190
NET ASSETS		3,826,384	3,533,190
FUNDS	18
Unrestricted funds:
General fund		3,812,202	3,513,583
Adventure Trust		14,182	19,607
		3,826,384	3,533,190
TOTAL FUNDS		3,826,384	3,533,190

			2021	2020
		Notes		E
Cash flows from operating	activities
Cash generated from operations			$19,701)	91,686
Net cash (used in)/provided	by operating	activities	~19,701)	91,686
Cash flows from investing	activities
Purchase oftangible fixed assets			(2,517)	(60,203)
Purchase offixed asset investments			(451,366)	(285,240)
Sale offixed asset investments			472,094	293,913
Movement in current asset	investments		96,383	75,224
Movement in cash funds held by broker			(23,246)	32,120
Improvements to investment	properties			(10,082)
Interest received			3,577	5,492
Dividends received			16,461	22,899
Net cash provided by investing activities			111,386	74,123
Change in cash and cash	equivalents
in the reporting period			91,685	165,809
Cash and cash equivalents	at the
beginning ofthe reporting	period		337,057	171,248
Cash and cash equivalents	at the end
ofthe reporting period			428,742	337,057

RECONCILIATION ACTIVITIES	OF NET	INCOME/(EXPE	NDITURE) TO NET CAS	H FLOW FROM	OPERATING
				2021	2020
					F
Net income/(expenditure)		for the reporting	period (as per the
Statement of Financial Activities)				293,194	(127,850)
Adjustments for:
Depreciation charges				50,212	53,241
(Gain)/losses on investments				(353,498)	58,706
Interest received				(3,577)	(5,492)
Dividends received				(16,461)	(22,899)
Decrease in stocks				570	1,777
(Increase)/decrease	in debtors			(6,989)	3,678
Increase in creditors				16,848	130,525
Net cash (used in)/provided		by operations		$19,701)	91,686

ANALYSIS OF C	HANGES IN NET FUNDS
		At 1/4/20	Cash flow	At 31/3/21
		F	E
Net cash
Cash at bank		337,057	91,685	428,742
		337,057	91,685	428,742
Liquid resources
Deposits included	in cash
Current asset investments		345,460	~96,383)	249,077
		345,460	~96,383)	249,077
Total		682,517	~4,698)	677,819

INVESTME	NT INCOME
		2021	2020
		E
Rental income		49,975	48,353
Investment	income	16,461	22,899
Bank interest		3,577	5,492
		70,013	76,744

3.	INCOME FROM CHARITA	BLE	AC	TI	VITIES
								2021	2020
								F	E
	Activity centre income							282	196,585
	Scouting activities, training	and section income						545	92,869
	County and international events								60,145
	Government funded Coronavirus		support grants					41,500
	CJRS furlough grants							69,826
	Miscellaneous income and	donations						10,966	28,075
								123,119	377,674
4.	RAISING FUNDS
	Investment management	costs
								2021	2020
	Investment managers fees							13,953	13,717
	Property managers administration		and		valuation		fees	5,001	4,784
	Investment properties maintenance			and other costs				1,266	1,786
								20,220	20,287
5.	CHARITABLE ACTIVITIES COSTS
								2021	2020
									F
	Salaries, wages, employers	national		insurance			and pensions	110,812	139,939
	Activity centre costs							15,437	82,833
	World Scout Youth Events							15,370	14,000
	Scouting activities, training	and section expenses						4,120	101,641
	County and international events								58,446
	County Executive, administration		and		other costs			29,241	44,239
	Depreciation less profit on	disposal of			tangible	fixed assets		50,212	53,241
								225,192	494,339
6.	SUPPORT COSTS
									Governance
									costs
									E
	Activity Centre and County								8,024

Governance	costs;
			2021	2020
Accountancy	and audit		8,024	8,156
Legal and professional		fees		780
			8,024	8,936

			2021	2020
				E
Wages	and	salaries	110,812	139,939
			110,812	139,939

		2021	2020
Charitable	activities	5	5
Administration		2	2

The realise	d and unrealised gains or losses inclu	ded in the financial statements are as fo	llows;
		2021	2020
			E
Realised gains/(losses)
Investment	properties		14,918
Listed investments		~4,572)	12,746
		~4,572)	27,664

	Unrealised gains/(losses)
	Investment properties
	Listed investments				358,070	~86,370)
					358,070	~86,370)
	Total gains/(losses)				353,498	~58,706)
10.	TANGIBLE FIXEDASSETS
			Freehold	Plant and	Motor
			property f	machinery f	vehicles f	Totals f
	COST
	At 1 April 2020		1,258,691	183,442	37,062	1,479,195
	Additions			2,517		2,517
	At 31 March 2021		1,258,691	185,959	37,062	1,481,712
	DEPRECIATION
	At 1 April 2020		447,058	124,463	27,780	599,301
	Charge for year		38,147	8,740	3,325	50,212
	At 31 March 2021		485,205	133,203	31,105	649,513
	NET BOOK VALUE
	At 31 March 2021		773,486	52,756	5,957	832,199
	At 31 March 2020		811,633	58,979	9,282	879,894
11.	FIXEDASSET INVESTMENTS
					2021 f	2020 f
	Shares				1,614,906	1,282,136
	Cash funds held by investment	managers	for future dealings		85,226	61,980
					1,700,132	1,344,116
						Listed
						investments
						f
	MARKET VALUE
	At 1 April 2020					1,282,136
	Additions					451,366
	Disposals					(472,094)
	Revaluations					353,498
	At 31 March 2021					1,614,906
	NET BOOK VALUE
	At 31 March 2021					1,614,906
	At 31 March 2020					1,282,136

E1,322,155(2020: F1,215,47	3).
			2021	2020
				E
Cash funds held by investment	managers	for future dealings	85,226	61,980
INVESTMENT PROPERTY
FAIR VALUE
At 1 April 2020
and 31 March 2021				895,000
NET BOOK VALUE
At 31 March 2021				895,000
At 31 March 2020				895,000

13.	STOCKS
									2021 f	2020 F
	Stocks								7,374	7,944
14.	DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
									2021	2020
									E	E
	Trade debtors								1,620	3,733
	Other debtors								27,484	18,865
	VAT								1,036	202
	Prepayments	and accrued			income				9,469	9,820
									39,609	32,620
15.	CURRENT ASSET INVESTMENTS
									2021	2020
									F	F
	Other								249,077	345,460
	The current asset investment					represents	Fixed Interest	Rate Deposits	and Bonds with	funds being
	deposited with	various		UK	banks.
16.	CASH AT BANK
									2021	2020
										F
	Unrestricted funds;
	Current accounts								233,337	189,704
	Deposit accounts								195,405	147,353
									428,742	337,057
17.	CREDITORS:	AMOUNTS			FALLING DUE WITHIN ONE			YEAR
									2021	2020
									F	F
	Deposits for county events,				courses and activity centre				169,993	101,242
	Trade creditors								6,197	10,771
	Social security	and other taxes							1,813	3,537
	Other creditors								97,959	158,583
	World Scout Youth Events								38,264	22,894
	Accruals and deferred		income						11,523	11,874
									325,749	308,901

MOVEM	ENT	IN FUNDS
				Net
				movement	At
			At 1/4/20	in funds	31/3/21
			F
Unrestricted		funds
General fund Adventure Trust			3,513,583 19,607	298,619 ~5,425)	3,812,202 14,182
			3,533,190	293,194	3,826,384
TOTAL	FUNDS		3,533,190	293,194	3,826,384

Net mov	ement	in funds, included	in the above are as follo	ws:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
				F		E
Unrestricted		funds
General fund Adventure Trust			193,110 22	(247,989) ~5,447)	353,498	298,619 ~5,425)
			193,132	)253,436)	353,498	293,194
TOTAL	FUNDS		193,132	~253,436)	353,498	293,194

Compar	atives	for movement in funds
				Net
				movement	At
			At 1/4/19	in funds	31/3/20
				E	E
Unrestricted		funds
General fund Adventure Trust			3,639,250 21,790	(125,667) ~2,183)	3,513,583 19,607
			3,661,040	~127,850)	3,533,190
TOTAL	FUNDS		3,661,040	~127,850)	3,533,190

Compara	tive	net movement in fu	nds, included in the above	are as follows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
					E	E
Unrestricted		funds
General fund Adventure Trust			450,021 4,397	(516,982) ~6,580)	(58,706)	(125,667) ~2,183)
			454,418	)523,562)	~58,706)	)127,850)
TOTAL	FUNDS		454,418	(523,562)	~58,706)	)127,850)