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 1 of 11 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 2 of 11 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. 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 3 of 11 ## 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**| 4 of 11 ## 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 5 of 11 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** 6 of 11 ## 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**| 7 of 11 ## 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**| 8 of 11 ## 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**| 9 of 11 ## 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**| 10 of 11 ## 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)**| 11 of 11 This page does not form part of the statutory financial statements