**BAGGERIDGE SOCIAL WELFARE CENTRE (REGISTERED CHARITY NUMBER 522808)**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JANUARY 2021**
## **BAGGERIDGE SOCIAL WELFARE CENTRE**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
||**Page**|
|---|---|
|**Legal & Administrative Information**|**1**|
|**Trustees Report**|**2-3**|
|**Independent Examiners' Report**|**4**|
|**Statement of Financial Activities**|**5**|
|**Balance Sheet**|**6**|
|**Notes to the Financial Statements**|**7-8**|
## **BAGGERIDGE SOCIAL WELFARE CENTRE**
**LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 JANUARY 2021**
**TRUSTEES :** J E Elgerton R C Baker D Branwood Mrs A Millward D Stanley
**REGISTERED OFFICE:** 1 The Straits Gornal Dudley West Midlands DY3 3AA **REGISTERED NUMBER:** 522808 **INDEPENDENT EXAMINER:** Sarah Edwards FCCA SJE Accounting Services Ltd Warren Cottage Worcester Road Pattingham West Midlands WV6 7EG
**BANKERS** Barclays Bank Plc High Street Dudley West Midlands DY1 1PP
1
## **BAGGERIDGE SOCIAL WELFARE CENTRE**
## **TRUSTEES REPORT FOR THE YEAR ENDED 31 JANUARY 2021**
The trustees present their report along with the financial statements of the charity for the year ended 31 January 2021. 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 and comply with the charities trust deed, applicable law and the Charities SORP FRS 102.
## **Constitution and Objectives**
The charity is constituted by a scheme dated 2 March 1970 and was registered on the same day under the number 522808.
Its objectives are to provide and maintain a social welfare centre and recreation ground for the benefit of the inhabitants of Sedgley and the surrounding neighbourhoods, particularly (but not exclusively) those who are member of the mining community.
The trustees have referred to the guidance given by the Charity Commission on public benefit when reviewing the charity's aims and objectives and details of the activities that have taken place during the year can be found later in this report
## **Organisational Structure**
The trustees who have served the charity during the year are shown on page 1.
The Charity is responsible for maintaining the premises and its contents and grounds in a suitable state of repair for use by those who live in the surrounding area. It raises income through various charitable activities, the main one being the hiring out of its facilities to the general public, but a substantial amount of its income comes from its connected trading company, Baggeridge Social Club Limited, which pays an annual occupational licence fee to the charity in order to run its business from the charity's premises. In addition to this, the company also transfers any profits it makes to the charity under a Gift Aid agreement so the trustees work closely with the directors to try to ensure the company is profitable, thus ensuring extra income for the charity.
Trustee vacancies are advertised and interested parties are asked to apply in writing. Interviews will be held and suitable candidates are notified to their nominating body being either Trade Union or members. The Trustee Board is made up of equal numbers of each nominating body.
## **Financial Review**
The charity had net incoing resources of £20,668 for the year compared to the previous year when net outcoming resources were £41,330. The connected trading company made a transfer of its profits to the charity under gift aid of £nil.
## **Review of Activities**
## **Achievements and Performance**
The centre continues its upward trend with the bar area now being completed to a high standard. It is hoped that during the forthcoming year the lounge area will be completely refurbished together with a new heating and air conditioning system. Thank you to the steward and all of the staff and also the committee and trustees for their continued support.
2
## **BAGGERIDGE SOCIAL WELFARE CENTRE**
## **TRUSTEES REPORT ( CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021**
## **Review of Activities Continued Recreation and Leisure**
The last year has been a difficult period for the club and we are pleased that we have been able to get to the point where we have successfully reopened again. Many pubs and clubs across the country have closed for good over the last 12 months, but Baggeridge has stayed open and remains on a reasonably stable financial footing. It is credit to the President, Trustees and Committee that the financial management of the club over recent years has been strong enough for us to weather the storm of the forced closure of the club due to COVID restrictions. In this section we would normally report notable achievements and milestones linked to the many leisure facilities and activities that we provide. Unfortunately due to COVID restrictions, leisure and social activities have been limited. Despite this membership numbers have remained high and we look forward to reporting next year on a range of activities and events. We would also like to place on record out thanks to the Steward and staff who have stayed with us over the last 12 months and helped us to manage the club in a COVID-safe way when we have been open.
## **Investment Policy**
There is no specific policy in place as such but the trustees have taken the sensible approach and placed the bulk of the charity's liquid assets in interest bearing accounts. This will provide a small amount of income for the charity in the form of interest but means that the funds are readily available should they be required.
## **Reserves Policy**
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 for a period of 12 months. Any additional reserves are held to provide a capital fund for repairs that will be required for the upkeep of the premises.
## **Risk Management**
The trustees are aware of the operational and financial risks which the charity faces and regularly reviews those risks to mitigate against any impact they may have on the charity. The major risks facing the charity are the continued success of the social club from which it derives its main funding, the support of the individuals and the community in using the facilities and the introduction of the younger generation to provide for the future. The trustees work closely with the directors, committee and members to address these risks.
## **Statement of Trustees' Responsibilities**
Law applicable to charities in England and Wales require 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 financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements;
- 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 at any time the financial position of the charity and to enable them to ensure that 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 detention of fraud and other irregularities.
……………………………………………….
Signed - Trustee
………………………………………………..
Print Name - Trustee
………………………………. Date
3
**BAGGERIDGE SOCIAL WELFARE CENTRE**
## **INDEPENDENT EXAMINERS' REPORT**
I report on the accounts of the Baggeridge Social Welfare Centre ( Charity number 522808) for the year ended 31 January 2021 which are set out on pages 5 to 8.
## **Respective responsibilities of trustees 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 of the Charities Act 2011 (the Charities Act ) and that an independent examination is needed.
It is my 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 my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with 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 my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that, in any material respect, the requirements:
- -to keep accounting records in accordance with section 130 of the Charities Act
- -to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
14/06/2021 ………………………………………………. ……………………………………………… S Edwards FCCA Date SJE Accounting Services Ltd Warren Cottage Worcester Road Pattingham West Midlands WV6 7EG
4
## **BAGGERIDGE SOCIAL WELFARE CENTRE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021**
|**Incoming Resources**
Donations, hall letting and miscellaneous income
Grant income
Subscriptions
Occupational licence
Bingo , raffles and snooker
Bowls income
Interest received
Mast Rental
Dividend Received
Gift Aid transfer from Baggeridge Social Club Limited
**Resources Expended**
Entertainment
Licences
Rates
Insurance
Light and heat
Repairs and maintenance
Printing, postage , stationery and adverts
Telephone
Accountancy
Bowls expenses
Cleaning
Advertising
General expenses
Depreciation
Bank interest and charges
**PROFIT/(LOSS)FOR THE YEAR**
Funds balance brought forward
**Total funds at 31 January 2021**||**2021**
£
1,551
36,357
1,628
18,333
870
1,292
47
8,489
-
-
68,567
1,944
441
4,985
3,901
5,180
11,368
102
708
1,725
4,953
1,704
-
56
10,708
124
47,899
20,668
148,770
169,438
**Unrestricted**|**2020**
£
7,643
-
1,229
20,000
4,103
3,416
686
7,074
8
3,019
47,178
16,684
-
8,903
4,263
14,959
15,722
932
572
1,705
6,510
4,485
1,687
828
10,904
354
88,508
(41,330)
190,100
148,770
**Funds**||**Variation**
**Increase/**
**(Decrease)**
-6,092
36,357
399
-1667
-3,233
-2,124
-639
1,415
-8
-3,019
21,389
-14,740
-3,918
-362
-9,779
-4,354
-830
136
20
-1,557
-2,781
-1,687
-772
-196
-230
-41,050|
|---|---|---|---|---|---|
The notes attached form part of these financial statements
5
## **BAGGERIDGE SOCIAL WELFARE CENTRE**
## **BALANCE SHEET AS AT 31 JANUARY 2021**
|||**2021**|**2021**|||2020|
|---|---|---|---|---|---|---|
||Notes|**£**|**£**||£|£|
|**FIXED ASSETS**|||||||
|Tangible assets|4||**105,346**|||116,053|
|Fixed asset investments|5||**344**|||344|
|**CURRENT ASSETS**|||**105,690**|||116,397|
|Debtors and prepayments||6
**20,616**|||2,340||
|Cash at bank and in hand||**55,640**|||60,421||
|**LESS: CURRENT LIABILITIES**||**76,256**|||62,761||
|Amounts falling due within one year|7|**(12,508)**||(30,388)|||
|**NET CURRENT ASSETS/ (LIABILITIES)**|||**63,748**|||32,373|
||||||||
|**TOTAL NET ASSETS**|||**169,438**|||148,770|
|Represented by:|||||||
|**FUNDS**|||||||
|Unrestricted funds|||**169,438**|||148,770|
|Approved by the trustees and signed on|their behalf by:||||||
|…………………………………………………………|||…………………………………….||||
|Signed - Trustee|||Print name - Trustee||||
|…………………………………………………..|||||||
|Date|||||||
6
## **BAGGERIDGE SOCIAL WELFARE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparation**
The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102), the Financial Reporting Standard (FRS 102) and the Charities Act 2011.
The trustees consider that there are no material uncertainties about the charities ability to continue as a going concern. The trustees have a reasonable expectation that the charity has adequate reserves to continue in operational existence for the foreseeable future. Accordingly the trustees continue to adopt the going concern basis in the preparation of the accounts.
## **Reconciliation with previous General Accepted Accounting Practice**
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed. No restatements were required.
## **Incoming recognition**
Income is recognised once the charity has entitlement to income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when they are received.
## **Expenditure Recognition**
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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
Grants are recognised when they are approved and the intention has been communicated to the recipient.
## **Depreciation**
Tangible fixed assets are shown at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset overs its expected useless life at the following annual rates:
- Improvements to buildings Straight line over 10 years - Fixtures, fittings and equipment 20% reducing balance
## **2. TAXATION**
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporations Taxes Act 188. Accordingly there is no taxation charge in these accounts.
## **3. TRUSTEE'S REMUNERATION**
No trustees received any remuneration or reimbursement of expenses in the year ( 2020: Nil)
7
**BAGGERIDGE SOCIAL WELFARE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
|**4.**
**5.**
**6.**
**7.**|**TANGIBLE FIXED ASSETS**
**Freehold**
**Land &**
**Building**
**Improve-**
**ments to**
**Buildings**
**£**
**£**
**COST**
At 1 February 2020
59,249
99,230
Additions
-
-
At 31 January 2021
**59,249**
**99,230**
**DEPRECIATION**
At 1 February 2020
-
46,348
Charge for year
-
9,923
At 31 January 2021
**-**
**56,271**
**NET BOOK VALUE**
At 31 January 2021
**59,249**
**42,959**
At 31 January 2020
59,249
38,320
**FIXED ASSET UINVESTMENTS**
Cost or Realisable Value
**DEBTORS**
Prepayments and Other debtors
Amount due from Baggeridge Social Club Ltd
**CREDITORS- Amounts falling due within one year**
Purchase Ledger Control
Amount due to Baggeridge Social Club Ltd
Overdrawn bank account
VAT
Accruals and deferred income
Stewards bond|**Fixtures ,**
**Fittings &**
**Equipment**
**£**
45,681
-
**45,681**
41,759
784
**42,543**
**3,138**
8,561
**2021**
£
344
1,295
19,321
20,616
4,070
-
2,897
5,541
-
12,508|**Total**
**£**
204,160
-
**204,160**
88,107
10,707
**98,814**
**105,346**
116,053
**2020**
£
344
2,340
-
2,340
1944
19589
307
1613
6885
-
30,338|
|---|---|---|---|
8