REGISTERED CHARITY NUMBER: 522184
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2023
for
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Smith Cookson Chartered Accountants
4 Yorke Street Hucknall Nottinghamshire NG15 7BT
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Contents of the Financial Statements for the Year Ended 31 July 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 | to | 11 |
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Report of the Trustees for the Year Ended 31 July 2023
The trustees present their report with the financial statements of the charity for the year ended 31 July 2023. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
522184
Principal address
Bestwood Miners' Welfare Park Road Bestwood Village Nottinghamshire NG6 8TQ
Trustees
S Milner D T Willetts G H Whyatt Mrs R E Ellis
Independent Examiner
Smith Cookson Chartered Accountants 4 Yorke Street Hucknall Nottinghamshire NG15 7BT
Approved by order of the board of trustees on 14 August 2024 and signed on its behalf by:
G H Whyatt - Trustee
Page 1
Independent Examiner's Report to the Trustees of Bestwood Miners' Welfare
Independent examiner's report to the trustees of Bestwood Miners' Welfare
I report to the charity trustees on my examination of the accounts of Bestwood Miners' Welfare (the Trust) for the year ended 31 July 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the 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.
I Dutton MA(hons) FCA The Institute of Chartered Accountants in England and Wales
Smith Cookson Chartered Accountants 4 Yorke Street Hucknall Nottinghamshire NG15 7BT
14 August 2024
Page 2
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Statement of Financial Activities for the Year Ended 31 July 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 18,177 Other trading activities 2 - Investment income 3 28,314 Total 46,491 EXPENDITURE ON Raising funds 92,901 NET INCOME/(EXPENDITURE) (46,410) RECONCILIATION OF FUNDS Total funds brought forward 278,014 TOTAL FUNDS CARRIED FORWARD 231,604 |
Restricted fund £ - - - - - - 323,658 323,658 |
31.7.23 Total funds £ 18,177 - 28,314 46,491 92,901 (46,410) 601,672 555,262 |
31.7.22 Total funds £ 17,463 54,506 21,913 93,882 82,310 11,572 590,100 601,672 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Balance Sheet 31 July 2023
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 173,998 16,079 42,277 58,356 (750) 57,606 231,604 231,604 |
Restricted fund £ 323,658 - - - - - 323,658 323,658 |
31.7.23 Total funds £ 497,656 16,079 42,277 58,356 (750) 57,606 555,262 555,262 231,604 323,658 555,262 |
31.7.22 Total funds £ 491,378 8,695 102,193 110,888 (594) 110,294 601,672 601,672 278,014 323,658 601,672 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 August 2024 and were signed on its behalf by:
G H Whyatt - Trustee
The notes form part of these financial statements
Page 4
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Notes to the Financial Statements for the Year Ended 31 July 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared 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' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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 attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.7.23 | 31.7.22 | |
| £ | £ | |
| Other trading activities | - | 54,506 |
continued...
Page 5
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.7.23 | 31.7.22 | |
| £ | £ | |
| Rents received | 28,202 | 21,867 |
| Investment income | 112 | 46 |
| 28,314 | 21,913 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 17,463 Other trading activities 54,506 Investment income 21,913 Total 93,882 EXPENDITURE ON Raising funds 82,310 NET INCOME 11,572 RECONCILIATION OF FUNDS Total funds brought forward 266,442 TOTAL FUNDS CARRIED FORWARD 278,014 |
Restricted fund £ - - - - - - 323,658 323,658 |
Total funds £ 17,463 54,506 21,913 93,882 82,310 11,572 590,100 601,672 |
|---|---|---|
continued...
Page 6
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
6. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 August 2022 805,612 Additions 18,241 At 31 July 2023 823,853 DEPRECIATION At 1 August 2022 321,488 Charge for year 16,476 At 31 July 2023 337,964 NET BOOK VALUE At 31 July 2023 485,889 At 31 July 2022 484,124 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Welfare Public House Limited 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS At 1.8.22 £ Unrestricted funds General fund 278,014 Restricted funds Other 323,658 TOTAL FUNDS 601,672 |
Fixtures and fittings £ 19,216 7,149 26,365 11,962 2,636 14,598 11,767 7,254 31.7.23 £ 2,460 13,619 16,079 31.7.23 £ 750 Net movement in funds £ (46,410) - (46,410) |
Totals £ 824,828 25,390 850,218 333,450 19,112 352,562 497,656 491,378 31.7.22 £ 8,695 - 8,695 31.7.22 £ 594 At 31.7.23 £ 231,604 323,658 555,262 |
|---|---|---|
continued...
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Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 46,491 TOTAL FUNDS 46,491 Comparatives for movement in funds At 1.8.21 £ Unrestricted funds General fund 266,442 Restricted funds Other 323,658 TOTAL FUNDS 590,100 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 93,882 TOTAL FUNDS 93,882 |
Resources Movement expended in funds £ £ (92,901) (46,410) (92,901) (46,410) Net movement At in funds 31.7.22 £ £ 11,572 278,014 - 323,658 11,572 601,672 Resources Movement expended in funds £ £ (82,310) 11,572 (82,310) 11,572 |
|---|---|
continued...
Page 8
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Other TOTAL FUNDS |
At 1.8.21 £ 266,442 323,658 590,100 |
Net movement in funds £ (34,838) - (34,838) |
At 31.7.23 £ 231,604 323,658 555,262 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 140,373 (175,211) |
(34,838) |
| TOTAL FUNDS | 140,373 (175,211) |
(34,838) |
10. RELATED PARTY DISCLOSURES
The Welfare Public House Limited, a company registered in England, with number 13361132 is a company limited by guarantee without a share capital. The sole current director, D T Willetts, is a trustee of the charity and has been appointed by the charity.
At 31st July 2024 The Welfare Public House LImited owed the charity £13,619.
Page 9
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Detailed Statement of Financial Activities for the Year Ended 31 July 2023
| 31.7.23 | 31.7.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 5,367 | 3,214 |
| Donations | 12,810 | 14,249 |
| Other trading activities | 18,177 | 17,463 |
| Other trading activities | - | 54,506 |
| Investment income | ||
| Rents received | 28,202 | 21,867 |
| Investment income | 112 | 46 |
| 28,314 | 21,913 | |
| Total incoming resources | 46,491 | 93,882 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 10,500 | 3,650 |
| Fund raising events costs | 3,382 | 3,254 |
| Sections costs | 3,980 | 2,745 |
| Other trading activities | 17,862 | 9,649 |
| Purchases | - | 20,511 |
| Other direct costs | - | 664 |
| Support costs | - | 21,175 |
| Management | ||
| Rates and water | 1,544 | - |
| Light and heat | 9,974 | 10,839 |
| Freehold property | 16,477 | 16,912 |
| Fixtures and fittings | 2,636 | 1,922 |
| 30,631 | 29,673 | |
| Finance | ||
| Bank charges | - | 663 |
| Information technology | ||
| Insurance | 3,639 | 4,630 |
| Carried forward | 3,639 | 4,630 |
This page does not form part of the statutory financial statements
Page 10
Bestwood Miners' Welfare Trading as Bestwood Miners' Welfare Institute And Recreation Ground
Detailed Statement of Financial Activities for the Year Ended 31 July 2023
| 31.7.23 | 31.7.22 | |
|---|---|---|
| £ | £ | |
| Information technology | ||
| Brought forward | 3,639 | 4,630 |
| Postage and stationery | 990 | 1,334 |
| Repairs and renewals | 34,496 | 12,763 |
| Sundries | - | 859 |
| Governance costs | 39,125 | 19,586 |
| Accountancy and legal fees | (1,225) | 900 |
| Professional fees | 6,508 | 664 |
| 5,283 | 1,564 | |
| Total resources expended | 92,901 | 82,310 |
| Net (expenditure)/income | (46,410) | 11,572 |
This page does not form part of the statutory financial statements
Page 11