2023-03-31-accounts - The Hamstead Social Welfare Centre

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HAMSTEAD SOCIAL WELFARE CENTRE REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

WALLACE CROOKE Chartered Accountants

Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

HAMSTEAD SOCIAL WELFARE CENTRE

CHARITY INFORMATION

CHARITY NO : 522747 TRUSTEES : P. Corry B. Cresswell T. Hannon J. Baker SECRETARY : J. Williams INDEPENDENT ACCOUNTANTS : Wallace Crooke Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT CONTENTS : Pages Trustees' Report 1 Idenpendent Accountant's Report 2 Statement of Financial Activities 3 Balance Sheet 4 Notes to the Financial Statements 5-8 Statement of Trustees' responsibilities 9 Income and Expenditure A-B

HAMSTEAD SOCIAL WELFARE CENTRE REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2023

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.............................................

Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAMSTEAD SOCIAL WELFARE CENTRE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

We report on the accounts of the Charity for the year ended 31 March 2022 which are set out on pages 3 to 8.

RESPECTIVE RESPONSIBILITIES OF TRUSTEEES AND EXAMINER

The Charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not

required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is our responsibility to:-

. examine the accounts under Section 145 of the 2011 Act;

. follow the procedures laid down in the general Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act; and

. state whether particular matters have come to our attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

Our examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

In connection with our examination, no matter has come to our attention.

1 which gives us reasonable cause to believe that, in any material respect, the requirements:-

. to keep accounting records in accordance with Section 130 of the 2011 Act; and

. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Wallace Crooke Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

HAMSTEAD SOCIAL WELFARE CENTRE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023

Note INCOMING RESOURCES *Incoming resources* *from generated funds* Activities for generating funds Investment income 2 *Incoming resources* *from charitable activities* TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities 3 Governance costs 4 TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES ( UNREALISED (LOSSES) / GAINS ON INVESTMENT ASSETS REALISED GAINS ON INVESTMENT ASSETS NET MOVEMENT IN FUNDS ( FUND BALANCES BROUGHT FORWARD AT 01.04.2022 FUND BALANCES CARRIED FORWARD AT 31.03.2023	2023 Endow- General ment £ £ 2,388 - 2,594 - 25,484 - 30,466 - 53,729 2,110 1,250 - 54,979 2,110 24,513 )( 2,110 )( - ( 5,533 )( - 3,569 24,513 )( 4,074 )( 124,076 475,092 99,563 471,018	Total £ 2,388 2,594 25,484 30,466 55,839 1,250 57,089 26,623 )( 5,533 ) 3,569 28,587 )( 599,168 570,581	2022 Total Funds £ 1,200 4,134 20,585 25,919 49,982 1250 51,232 25,313 ) 3,045 2788 19,480 ) 618,648 599,168

HAMSTEAD SOCIAL WELFARE CENTRE BALANCE SHEET 31 MARCH 2023

Note FIXED ASSETS Tangible fixed assets 6 Investments 7 CURRENT ASSETS Debtors 8 Bank balances 9 Less CURRENT LIABILITIES falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS Represented by:- THE CENTRE'S FUNDS General funds 11 Endowment funds 11	2023 £ £ 227,180 165,329 392,509 16,321 164,065 180,386 2,314 178,072 570,581 99,563 471,018 570,581	2022 £ £ 235,922 167,533 403,455 15,733 185,773 201,506 5,793 195,713 599,168 124,076 475,092 599,168

Approved by the Trustees on

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HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023

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 2015)'. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value

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. Reurbishment: 2% on cost. Equipment : 10% on WDV.

Taxation

The charity is exempt from corporation 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.

INVESTMENT INCOME Bank interest received Income from investments Gift aid Inpost rental income	2023 £ 724 1,870 - - 2,594	2022 . 16 1,489 - 2,629 4,134

HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023

3.

4.

5.

6.

ANALYSIS OF TOTAL RESOURCES EXPENDED
2023
£
Charitable activities-unrestricted funds
Staff costs
28,811
Premises costs
22,095
Repairs and greenkeeping costs
2,344
Sundry costs
479
53,729
Charitable activities-permanent endowment funds
Portfolio management charges
2,110
Governance costs
Accountancy
1,250
1,250
The above costs represent expenses directly allocated to charitable activities.
Includes:-
Depreciation
8,742
STAFF COSTS
Wages and salaries
26,311
National Insurance
2,021
Pension
479
28,811
The Charity employed the equivalent of 1 and 1/3 members of staff.
None earned more than £60,000 P.A.
TANGIBLE FIXED ASSETS
Freehold
Refurbish-
land
ment
Equipment
£
£
£
Cost
At 1 April 2022
11,135
407,111
66,789
Additions
-
-
At 31 March 2023
11,135
407,111
66,789
Depreciation
At 1 April 2022
-
189,718
59,395
Charge for the year
-
8,142
600
At 31 March 2023
-
197,860
59,995
Net Book Value
At 31 March 2023
11,135
209,251
6,794
At 31 March 2022
11,135
217,393
7,394

2022
£
26,457
18,863
2,257
293
47,870
2,112
1,250
1,250
8,963
24,374
1,724
359
26,457
Total
£
485,035
485,035
249,113
8,742
257,855
227,180
235,922

HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023

7. INVESTMENTS At Valuation Book Market value value 2023 2023 £ £ Shares and other investments 158,920 165,329 8. DEBTORS Prepayments and accrued income VAT debtor Tax debtor 9. BANK BALANCES Current account Capital reserve account 10. CREDITORS: amounts falling due within one year Accruals and deferred income 11. FUND BALANCES General Funds Fund balances at 31 March 2023 are £ represented by:- Tangible fixed assets 227,180 Investments - Current assets (within 12 months) - Current assets (over 12 months) - Current liabilities ( 15,509 ) Long term liabilities ( 112,108 ) 99,563 Permanent Endowment Funds	2023 £ 165,329 Book value 2022 £ 155,653 2023 £ - 15,448 873 16,321 7,149 156,916 164,065 2,314 Endowment Funds £ - 165,329 79,284 226,405 - ( - ( 471,018	2022 £ 167,533 Market value 2022 £ 167,533 2022 £ 715 14,145 873 15,733 11,581 174,192 185,773 5,793 Total £ 244,885 165,329 79,284 226,405 15,509 ) 112,108 ) 570,581

Consists of the surplus arising on the sale of land in 1998.

Current assets over 12 months represent the amounts due under the Charity Commission orders for improvements to fixed assets. The long term liability represents the amounts that general funds need to finance the Charity Commission Orders.

12. CONTINGENT LIABILITIES

The Coal Industry Social Welfare Organisation (CISWO), a Registered Charity, holds a covenant to receive 50% of any surplus realised on the sale of the Centre's land.

HAMSTEAD SOCIAL WELFARE CENTRE NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023

13. RELATED PARTY DISCLOSURES

Hamstead Social Club Limited is a company limited by guarantee whose directors, P. Corry, B. Cresswell and T.Hannon were also trustees of Hamstead Social Welfare Centre in the year under review. During the year the charity entered into the following transactions with the company: (a) donation paid by the company under gift aid £nil (2022: £ nil); (b) license paid by the company for use of the premises £1,200 (2022: £ 1,200); (c) joint expenses incurred by the charity and reimbursed by the company £32,894 (2022: £16,898): joint expenses incurred by the company and reimbursed by the charity £41,917 (2021 £33,564).

HAMSTEAD SOCIAL WELFARE CENTRE TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The 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's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

. select suitable accounting policies and then apply them consistently;
. make judgements and estimates that are reasonable and prudent;
. state whether applicable accounting standards and statements of recommended practice have been

followed, subject to any departures disclosed and explained in the financial statements; and;

. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees on

and signed on their behalf by:

Chairman

HAMSTEAD SOCIAL WELFARE CENTRE DETAILED INCOME AND EXPENDITURE STATEMENT YEAR ENDED 31 MARCH 2023

INCOME Incoming resources from generated funds Raffle Occupational license Investment income Gift aid Endowment portfolio income Bank interest received Inpost rental income Incoming resources from charitable activities Room hire and entertainment Sundry income Line dancing Bowls donation Compensation for damaged lampost TOTAL INCOME	2023 £ 1,188 1,200 2,388 - 1,870 724 - 2,594 25,484 - - - - 25,484 30,466	2022 £ - 1,200 1,200 - 1,489 16 1,129 2,634 19,585 - - 1,000 1,500 22,085 25,919

HAMSTEAD SOCIAL WELFARE CENTRE

DETAILED INCOME AND EXPENDITURE STATEMENT YEAR ENDED 31 MARCH 2023

PREMISES COSTS Rates Water rates Insurance Light and heat Equipment leasing Depreciation - endowment fixed assets Depreciation of Equipment FINANCE COSTS Bank charges SUNDRY COSTS Printing, stationery and advertising General expenses GOVERNANCE COSTS Accountancy Wages and salaries Repairs maintenance and gardening Portfolio management charges TOTAL EXPENSES	2023 £ 873 2,319 3,116 4,412 2,633 8,142 600 22,095 - 459 20 479 1,250 1,250 28,811 2,344 2,110 57,089	2022 £ 446 990 2,491 2,667 3,306 8,142 821 18,863 - 293 - 293 1,250 1,250 26,457 2,257 2,112 51,232