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2022-01-31-accounts

BAGGERIDGE SOCIAL WELFARE CENTRE (REGISTERED CHARITY NUMBER 522808)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

BAGGERIDGE SOCIAL WELFARE CENTRE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

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 2022

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 2022

The trustees present their report along with the financial statements of the charity for the year ended 31 January 2022. 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 incoming resources of £8,441 for the year compared to the previous year when net incoming resources were £20,668. The connected trading company made a transfer of its profits to the charity under gift aid of £20,858.

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.

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BAGGERIDGE SOCIAL WELFARE CENTRE

TRUSTEES REPORT ( CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

Review of Activities Continued Recreation and Leisure

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:

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 2022 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:

………………………………………………. ……………………………………………… 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 2022

Incoming Resources
Donations, hall letting and miscellaneous income
Grant income
Subscriptions
Occupational licence
Bingo , raffles ,snooker and football
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
Donations
General expenses
Depreciation
Bank interest and charges
PROFIT/(LOSS)FOR THE YEAR
Funds balance brought forward
Total funds at 31 January 2022		 2022
£
1,994
15,143
757
20,000
1,086
1,917
6
10,995
4
20,778
72,680
8,160
2,210
5,114
3,958
11,781
11,056
-
60
1,795
6,051
2,474
100
872
10,551
137
64,319
8,361
169,438
177,799
Unrestricted		 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
Funds		 Variation
Increase/
(Decrease)
443
-21,214
-871
1667
216
625
-41
2,506
4
20,778
4,113
6,216
1,769
129
57
6,601
-312
-102
-648
70
1,098
770
100
816
-157
13
16,420

The notes attached form part of these financial statements

5

BAGGERIDGE SOCIAL WELFARE CENTRE

BALANCE SHEET AS AT 31 JANUARY 2022

Notes
£
£
FIXED ASSETS
Tangible assets
4
94,795
Fixed asset investments
5
344
95,139
CURRENT ASSETS
Debtors and prepayments
6
38,061
Cash at bank and in hand
58,223
96,284
LESS: CURRENT LIABILITIES
Amounts falling due within one year
7
(13,624)
NET CURRENT ASSETS/ (LIABILITIES)
82,660
TOTAL NET ASSETS
177,799
Represented by:
FUNDS
Unrestricted funds
177,799
2022		 £
£
105,346
344
105,690
20,616
55,640
76,256
(12,508)
63,748
169,438
169,438
2021

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 2022

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:

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 ( 2021: Nil)

7

BAGGERIDGE SOCIAL WELFARE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022

4.
5.
6.
7.		 TANGIBLE FIXED ASSETS
Freehold
Land &
Building
Improve-
ments to
Buildings
£
£
COST
At 1 February 2021
59,249
99,230
Additions
-
-
At 31 January 2022
59,249
99,230
DEPRECIATION
At 1 February 2021
-
56,271
Charge for year
-
9,923
At 31 January 2022
-
66,194
NET BOOK VALUE
At 31 January 2022
59,249
33,036
At 31 January 2021
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
42,543
628
43,171
2,510
8,561
2022
£
344
1,295
36,766
38,061
4,988
-
-
3,065
5,571
-
13,624		 Total
£
204,160
-
204,160
98,814
10,551
109,365
94,795
105,346
2021
£
344
1,295
19,321
20,616
4070
-
-
2897
5541
-
12,508

8