EAST KIRKBY MINERS, WELFARE TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
EAST KIRKBY MINERS, WELFARE TRUST INDEX TO THE FINANCIAL STATEMENTS PAGE Legal and Administrative Details Trustees, Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes lo the Financial Statements
EAST KIRKBY MINERS, WELFARE TRUST LEGAL AND ADMINISTRATIVE DETAILS East Kirkby Miners, Welfare Trust is register6d with the Charity Commission (Registration number 522234) Address of Charity.. The Summit Centre Pavilion Road Kirkby-in-Ashfield Nottingham NG17 7LL Trustees: C G Brown A J Cruddace A Sipson D Naylor J Naylor Se¢retarylTreasurer' K Appleby Bankers: Bardays Bank plc 90 Station Street Kirkby-in-Ashfield Nottingham NG17 7AP Independent Examiner.. J Wallage FCA CISWO {Trading) Ltd The Old Rectory Rectory Drive Whiston ROTHERHAM Soulh Yorkshire S60 4JG
EAST KIRKBY MINERS, WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report along wth the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts which can be found on page 7. Constitutlon and Objects The charity is constituted by a Scheme dated 13 February 2007 and was registered on 13 June 1983 under the number 522234. Its objects are to provide an institute and recreation ground for the benefit of the inhabitants of Kirkby-in- Ashfield in Nottinghamshire. parbcularty {but not exclusively} those who are members of the mining community. Trustee vacancies are advertised and interested parties are asked lo apply in writing. InteNiews will be held and suitable candidates are then notified lo their nominating body being either CISWO, trade union or members. The trustee board is made up of equal numbers of each nominating body. Financlal Revlew The charity had net expenditure of £10,029 for the year. an improvement on last yearfs deficit of £12,996. Overall income has increased although trustees are somewhat concerned about the reduced activity on the bar and will look at ways that this can be improved in the coming year. As expected, gas and electricity cosls hav8 remained high but a new deal ¥Mth suppliers has helped lo control this. Repairs costs have increased this year as the building continues lo age and requires regular upkeep and maintenance. In addition to this, high depreciation charges have once again affected the overall result and wll continue to do so for the foreseeable future. However, the result before these charges would be a substantial surplus each year and the trustees are encouraged by this. Revlew of Actlvlties The trustees are pleased that the Centre has managed to retain its regular user5 and also actively encourages new users to the facilities. Activities have continued to take place on the 3G pitch and this is full lo capacity during the week. The trustees hope to seek funding lo expand both the 3G pitch and provide alleralions lo the existing ft)otball pitch. The Children's Centre continues to operates from part of the building and provides a Substantial amounl of income for the charity from rent received. The Centre is utilised by local groups for such as fitness classes and also by the local authority as a venue for training courses. During the year. the Centre took over the running of the local Food Club providing food parcels for the local community. This is operated by Centre staff wilh grant funding secured lo cover the cost of the food distributed. Those wshing to access this service pay a membership fee lo do so and this has resulted in a small amount of additional income for the Centre. Continued...
EAST KIRKBY MINERS. WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED Investment Policy There is no investment policy in place as such but the trustees have taken Ihe sensible approach and placed the bulk of the charity's liquid assets in interest bearing bank accounts. This raises a modest amounl of income for thè charity in the form of interest received but allows the funds to remain easily accessible should they be required. Reserves Pollcy It Is the policy of the trustees to maintain unreslrlcted funds which are the free reserves of the charity al level to provide sufficient funds lo cover anlicipaled administration and support costs for a period of velve months. Any addilional reseeS are held to provide a capital fund for repairs that will be required for the upkeep of the prernises. Rlsk Management The trustees are aware of the operational and financial risks which the charity faces and regularly review5 those risks to mitigate against any impact they may have on the charity. The major risks facing the charity are the support of individuals and the community in using the facilities and the introduction of the younger generation to provide for the fvlure. The trustee5 work constantly io address these risks. Statement of Trustees, Responslbllltles Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the Charity for that period. In preparing those financlal statements, the trustees are required to.. select suitable acwunling policies and then apply them consistently., obsetve the methods and prlncip16s in the Charities SORP.. make judgements and estimates that are reasonable and prudent.. slate whether applicable accounting standards have been followed subject lo any material departures disclosed and explained in the financial slalements., prepare the financial statements on the going concern basis unless it Is Inappropriate lo presume that the charity will ¢ontinue in operation. The trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity and which enable them ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed - Trustee Print Name- Trustee 4 December2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EAST KIRKBY MINERS WELFARE TRUST I report to the Trustees on my examination of the accounts of the above named charity (registered no. 5222341 for the year ended 31 March 2024 which are sel out on pages S to 9. Res onsibilities and basis of re ort As the charity trustees you are responsible ft)r the preparation of the accounts in accordanGe wth the requirements of the Charities Act 2011 {Ihe Act). I repart in respect of my examination of the Trustees, accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable directions given by the Charity Commission under section 145{51{b} of the 2011 Act. Inde endent Examlner's Statement I have completed my examination. l confirm that no material matters have come to my att8nlion in connection wlh the examination giving m8 cause to believe that in any material respect.. (11 accounting records were not kept in respect of the Charity as required by section 130 of the Act., or {2) the accounts do not accord wth those records., or (31 the aGcounts do not comply with the applicable accounting requirements conc8rning 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, lch is not a matter considered as part of an independent examination. I have no concerns and have come acr0$5 no other mattets in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. 4 DeGember 2024 J Wallage FCA On behalf of CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rolherham South Yorkshire S60 4JG
EAST KIRKBY MINERS. WELFARE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note INCOME Bar takings 8,801 18,560 Opening slock Bar purchases 2.601 5,076 2,500 9,178 7,677 11,753) 11,678 12,601) Less: Closing slo¢k {5.924) {9,077) GROSS PROFIT ON BAR 2,877 9.483 Room hire and rental income Sport and leisure facilities income Café and buffet income Utilities recharge income Food Club income Grants received Other income 71,959 48,101 14,246 30,055 2,865 3,846 3,248 73.568 37.320 16.923 29.183 Total Income 176,997 167,026 enditure Wages, NIC and penslon Contributions Insurance Water rates Repairs and maintenance Light and heat Café and buffet expenses Cleaning and hygiene Telephone, stationery, postage and adverts Accountancy Legal and professional fees Taxis, travel and other sundry expenses Food Club costs Depreciation Loss on scrapping of old assets 46,575 8,498 1,972 27,191 49,075 5,833 4,047 3,545 1.045 908 1,262 1,910 35,085 82 45.405 7,536 1,016 17,501 54,885 6,306 3,127 3,797 1.006 747 1,681 35,398 1,617 Total Expenditure 1187,0261 1180,0221 Net (expenditure) {10,029) {12,996) Total funds brought forward 657,197 670.193 Total funds carrled forward 647,168 657.197
EAST KIRKBY MINERS, WELFARE TRUST BALANCE SHEET AS AT 31 MARCH 2024 NOTE 2024 2023 FIXED ASSETS Tangible assets 501,950 537,117 CURRENT ASSETS Stock Debtors Cash at bank and in hand 1.753 23,503 154,209 2,601 18.141 117,008 179,465 137,750 LESS: CURRENT LIABILITIES Creditors falling due within one yèar (34,2471 (17,670) NET CURRENT ASSETS 145,218 120,080 TOTAL NET ASSETS 647,168 657.197 FINANCED BY: Unrestricted Funds 647,168 657,197 The ff nancial slalemenls were approved by the trustees and signed on their behalf by.. Signed - Trustee Print Name - Trustee 4 December 2024
EAST KIRKBY MINERS WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (a) Basls of preparation and assessment of golng concern The financial statements have been prepared under the histerirAI cost convention unless Otherwise ststed in the relevant notes to these accounts. The financial statements have been prepared in accordance wth the Statement of Recommended PractiGe.' Accountrng and Reporting by Charities {FRS 1021, the Financial Reporting Standard (FRS 102) and the Charities Act 2011. The trustees consider that th8re are no material uncertainties about the charity's ability to continue as a going concern. The trustees hav8 a reasonable expectation that the charity has adequate serves lo conb'nue in operational existencè for the foreseeable future. Accordingly the trustees continue to adopt the going concern basis in the preparation of the accounts. (b) Income Recognltlon Income is recognised On the Charity has entitlement to the income, il is probable that the income 11 be received and the amount of income receivable can be measured reliably. Donations are recognised when they are received. (c) Expendlture recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing Ihe charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Id) Depreciation Tangible fixed assets are shown at cost less accumulated depreciation. Depreciation is provided at rates calculated to te off the cost of each asset over its expecte¢J useful life at the followng annual rates.. Land and buildings Fixtures. fittings and equipment Straight line basis over 25 years 20Yo reducing balance basis 200/0 slraighl line basis 1 OVO reducing balance basis Allotment project assets
EAST KIRKBY MINERS, WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Allotment Pro Assets Freehold Buildin Flxtures & Fittin 2. FIXED ASSETS Total Cost At 1 April 2023 Additions Disposals 1,680,036 36,943 8.250 1,725,229 12501 (2501 At 31 March 2024 1,680.036 36,693 8,250 1,724.979 De reciatlon At 1 April 2023 Charge for period Eliminated 1,162.799 30,562 19,160 4,313 {168) 6.153 210 1,188,112 35,085 1168) At 31 March 2024 1.193,361 23.305 6.363 1,223,029 Net Book Value At 31 March 2024 486,675 13,388 1,887 501.950 Al 31 March 2023 517,237 17,783 2.097 537.117 Note The Millenium Commission holds a charge over the property arising from granl funding given for the constnjction of the building. 2024 2023 3. STOCK Bar stocks 1,753 2.801 4. DEBTORS Trade debtors - Sales ledger balances Prepayments Accrued income 2,863 8,403 12,237 7,840 1.906 8,395 23,503 18,141
EAST KIRKBY MINERS, WELFARE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 CASH AT BANK AND IN HAND Current account Deposit account Cash in hand 57,818 96,291 300 30,777 85.931 300 154,209 117,008 CREDITOR Amounts fallin due withln one ear Trade Creditors - Purchase ledger balances Accruals VAT Deferred grant- Food Club Other creditors 12.238 3,101 5.096 5,384 8,428 2,868 6,570 1,605 6,627 34.247 17,670