Charity number: 522184
BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 July 2022
BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Contents Page For the year ended 31 July 2022
| Report of the Trustees | 1 to 2 |
|---|---|
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 10 |
| Detailed Statement of Financial Activities | 11 |
BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Report of the Trustees
For the year ended 31 July 2022
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 July 2022. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
The Bestwood Miners' Welfare Trustees report that in this financial year the trustees recovered well from the restrictions imposed by Covid. Lottery grants have been received which have helped towards the upkeep of the spaces provided to the community and sections within the charity including major refurbishment of the village hall. The grant was a capital grant and thus has been capitalised in the accounts. In April, the bar was removed from the charity and was incorporated as an entity in its own right to give clarity to transparency of the charity's cause and intentions.
The charity continued to support the groups and individuals and sections within the charity to best serve the community
Investment performance
Investment Policy
The trustees do not have an investment policy in place as such. However, they have taken the sensible approach and the bulk of the charity's liquid assets are held in interest bearing accounts which earn the charity some income each ye
FINANCIAL REVIEW
The charity has a net surplus of £19,430 (2021 - £16,116 ) At 31st July 2022 total reserves amounted to £609,530 (2021 - 590,100) of this £323,658 related to restricted reserves as brought forward from 2021.
It is the policy of the trustees to maintain unrestricted funds which are free reserves of the charity at a level to provide sufficient funds to cover anticipated administration and support costs.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Charity registration number 522184 Principal address PARK ROAD BESTWOOD VILLAGE NOTTINGHAM NG6 8TQ
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Independent examiners
DT WILLETTS SE MILNER GH WHYATT R ELLIS Valhalla Tax Consultancy Ltd 29 Watnall Road Hucknall Nottingham NG15 7LD
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Report of the Trustees Continued
For the year ended 31 July 2022
Bankers
Lloyds Bank Plc Blackheath Nat West Bank PLc Bulwell & Hucknall Branch TSB Mansfield Road Sherwood Nottingham
Approved by the Board of Trustees and signed on its behalf by
............................................................................. SE MILNER
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Independent Examiners Report to the Trustees
For the year ended 31 July 2022
I report to the trustees on my examination of the accounts of the charity for the year ended 31 July 2022.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners 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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 accounts to be reached.
Valhalla Tax Consultancy Ltd 29 Watnall Road Hucknall Nottingham NG15 7LD
29 September 2023
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Statement of Financial Activities
For the year ended 31 July 2022
| Notes Income and endowments from: Donations and legacies 2 Other trading activites 3 Investments 4 Total Expenditure on: Raising funds 5 Charitable activities 6/7 Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 14,249 79,599 34 93,882 (32,085) (50,225) (82,310) 11,572 590,100 601,672 |
2021 £ 77,106 39,878 46 |
|---|---|---|
| 117,030 | ||
| (64,416) (115,103) |
||
| (179,519) | ||
| (62,489) 652,589 |
||
| 590,100 |
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Statement of Financial Position As at 31 July 2022
| Notes Fixed assets Tangible assets 12 Current assets Stocks 13 14 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds 16 Total funds |
£ 2022 491,378 491,378 - 8,695 102,193 110,888 (594) 110,294 601,672 601,672 601,672 601,672 |
£ 2021 500,236 |
|---|---|---|
| 500,236 | ||
| 2,075 8,500 83,731 |
||
| 94,306 | ||
| (4,442) 89,864 |
||
| 590,100 | ||
| 590,100 | ||
| 590,100 | ||
| 590,100 |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
SE MILNER Trustee
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Notes to the Financial Statements
For the year ended 31 July 2022
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
2. Income from donations and legacies
| Unrestricted funds Donations received Grants received ncome earned from other activities Unrestricted funds Fund raising events Other activities for generating funds 1 nvestment income Unrestricted funds Bank interest receivable |
2022 £ - 14,249 14,249 2022 £ 79,599 - 79,599 2022 £ 34 34 |
2021 £ 77,106 - |
|---|---|---|
| 77,106 | ||
| 2021 £ 37,257 2,621 |
||
| 39,878 | ||
| 2021 £ 46 |
||
| 46 |
3. Income earned from other activities
4. Investment income
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Notes to the Financial Statements Continued
For the year ended 31 July 2022
5. Expenditure on other trading activities
| Unrestricted funds Fund raising events Other activities for generating funds 1 osts of charitable activities by fund type Unrestricted funds Direct Costs Support costs |
2022 £ 31,226 859 32,085 2022 £ - 50,225 50,225 |
2021 £ 64,416 - |
|---|---|---|
| 64,416 | ||
| 2021 £ 44,562 70,541 |
||
| 115,103 |
6. Costs of charitable activities by fund type
7. Costs of charitable activities by activity type
| Support costs Direct Costs Light, Heat & Power Repairs, Renewals & Cleaning Insurance Administration Expenses Sundry Expenses |
2021 2022 £ £ 19,496 66,469 10,839 7,199 12,763 33,264 4,630 3,511 1,834 4,660 663 - 50,225 115,103 |
|---|---|
8. Analysis of support costs
| Direct Costs Management Governance costs |
2022 £ 18,832 31,393 50,225 |
2021 £ 19,871 50,670 |
|---|---|---|
| 70,541 |
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Notes to the Financial Statements Continued
For the year ended 31 July 2022
9. Net income/(expenditure) for the year
This is stated after charging/(crediting):
| This is stated after charging/(crediting): | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation of owned fixed assets | 18,832 | 17,835 |
| Accountancy fees | 500 | 4,763 |
10. Staff costs and emoluments
Total staff costs for the year ended 31 July 2022 were:
| Salaries and wages | 2022 £ 3,650 3,650 |
2021 £ 12,136 |
|---|---|---|
| 12,136 |
11. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
12. Tangible fixed assets
| Cost or valuation At 01 August 2021 Additions Transferred At 31 July 2022 Depreciation At 01 August 2021 Charge for year At 31 July 2022 Net book values At 31 July 2022 At 31 July 2021 |
Land and Buildings £ 795,638 158,101 (148,127) 805,612 304,578 16,910 321,488 484,124 491,060 |
Fixtures and Fittings £ 19,216 - - 19,216 10,040 1,922 11,962 7,254 9,176 |
Total £ 814,854 158,101 (148,127) |
|---|---|---|---|
| 824,828 | |||
| 314,618 18,832 |
|||
| 333,450 | |||
| 491,378 | |||
| 500,236 |
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Notes to the Financial Statements Continued
For the year ended 31 July 2022
13. Stocks and work in progress
| Stocks of raw materials Debtors Amounts due within one year: Other debtors |
2022 £ - - 2022 £ 8,695 8,695 |
2021 £ 2,075 |
|---|---|---|
| 2,075 | ||
| 2021 £ 8,500 |
||
| 8,500 |
14. Debtors
15. Creditors: amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2022 £ 80 (1,886) 2,400 594 |
2021 £ 3,826 (284) 900 |
|---|---|---|
| 4,442 |
16. Movement in funds
Unrestricted Funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 01/08/2021 | resources | resources | 31/07/2022 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 590,100 | 93,882 | (82,310) | 601,672 |
| 590,100 | 93,882 | (82,310) | 601,672 | |
| Unrestricted Funds - Previous year | ||||
| Balance at | Incoming | Outgoing | Balance at | |
| 01/08/2020 | resources | resources | 31/08/2021 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 652,589 | 117,030 | (179,519) | 590,100 |
| 652,589 | 117,030 | (179,519) | 590,100 |
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Notes to the Financial Statements Continued
For the year ended 31 July 2022
17. Analysis of net assets between funds
| Unrestricted funds General General Previous year Unrestricted funds General General |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 491,378 110,294 601,672 |
|---|---|
| 491,378 110,294 601,672 |
|
| Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 500,236 89,864 590,100 |
|
| 500,236 89,864 590,100 |
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BESTWOOD MINERS WELFARE INSTITUTE AND RECREATIONAL GROUND Detailed Statement of Financial Activities
For the year ended 31 July 2022
| INCOME AND ENDOWMENT Donations and legacies Donations Grants receivable Other trading activities Fund raising events Income from other activities for generating funds 1 Investments Bank interest receivable Total incoming resources EXPENDITURE Other trading activities Fund raising events costs Cost of other activities for generating funds 1 Charitable activities Cost of direct charitable activity (Direct Costs) SUPPORT COSTS Management Management (Direct Costs) Governance costs Governance costs (Direct Costs) Governance costs (Light, Heat & Power) Governance costs (Repairs, Renewals & Cleaning) Governance costs (Insurance) Governance costs (Administration Expenses) Governance costs (Sundry Expenses) Total resources expended Net Income |
£ 2022 - 14,249 14,249 79,599 - 79,599 34 34 93,882 (31,226) (859) (32,085) - - (18,832) (18,832) (664) (10,839) (12,763) (4,630) (1,834) (663) (31,393) (82,310) 11,572 |
£ 2021 77,106 - |
|---|---|---|
| 77,106 37,257 2,621 |
||
| 39,878 46 |
||
| 46 | ||
| 117,030 (64,416) - |
||
| (64,416) (44,562) |
||
| (44,562) (19,871) |
||
| (19,871) (2,036) (7,199) (33,264) (3,511) (4,660) - |
||
| (50,670) | ||
| (179,519) | ||
| (62,489) |
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This page does not form part of the statutory financial statements