2022-03-31-accounts - Sedbergh Youth And Community Centre

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REGISTERED CHARITY NUMBER: 523510

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

SEDBERGH YOUTH AND COMMUNITY CENTRE

Shenward (Leeds) Limited Chartered Accountants & Business Advisors Josephs Well, Suite 2C Hanover Walk Leeds West Yorkshire LS3 1AB

SEDBERGH YOUTH AND COMMUNITY CENTRE

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

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Statement of Financial Position		5
Notes to the Financial Statements	6	to	10
Detailed Statement of Financial Activities		11

SEDBERGH YOUTH AND COMMUNITY CENTRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objects are to help educate, support and empower people of all ages and backgrounds through their leisure time activities.

Public benefit

In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of education.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Having developed into a centre which the entire community use we aim to provide positive opportunities for all people in Bradford to participate in sporting, social, educational and cultural activities. Our purpose built centre consists of a main club room, kitchen, sensory room, gymnasium, large function room/dance studio, office space, main office and model railway room.

FINANCIAL REVIEW

Financial position

The net income for the year was £7,227, including net income of £6,837 on unrestricted funds and net income of £390 on restricted funds.

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £116,557.

The trustees annually review the reserves policy to ensure it is in line with the needs of the charity. Three to six months running costs are kept as minimum to ensure continuity of service to groups using the centre. The trustees aim to hold reserves of at least £23,000 in the Barclays Community Account.

The funds will be held to meet the following costs in the event of the closure of Sedbergh Youth and Community Centre:

All outstanding debts and creditors, salaries and redundancy payments.

Additional payments, if necessary, will be made to this fund each financial year after a review of the above costs.

Going concern

Whilst the coronavirus has had a financial impact there are no material uncertainties so significant as to cast doubt over the ability of the charity to continue to operate as a going concern.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The Club was established under a Trust Deed dated 11 October 1962 as amended 24 September 2014.

Recruitment and appointment of new trustees

The trustees of the charity are appointed by the members at the AGM.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

523510

Principal address

Sedbergh Centre Huddersfield Road Bradford BD6 1DJ

Page 1

SEDBERGH YOUTH AND COMMUNITY CENTRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Trustees

H M Buck Chair C N Towers Trustee Ms N O'Farrell Trustee (resigned 15.3.22) Ms S Oxtoby Trustee (resigned 7.3.22)

Independent Examiner

Shenward (Leeds) Limited Chartered Accountants & Business Advisors Josephs Well, Suite 2C Hanover Walk Leeds West Yorkshire LS3 1AB

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

........................................................................ H M Buck - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SEDBERGH YOUTH AND COMMUNITY CENTRE

Independent examiner's report to the trustees of Sedbergh Youth and Community Centre

I report to the charity trustees on my examination of the accounts of Sedbergh Youth and Community Centre (the Trust) for the year ended 31 March 2022.

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 2. 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.

ICAS Shenward (Leeds) Limited Chartered Accountants & Business Advisors Josephs Well, Suite 2C Hanover Walk Leeds West Yorkshire LS3 1AB

Date: .............................................

Page 3

SEDBERGH YOUTH AND COMMUNITY CENTRE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 62,746 15,078 77,824 153,803
Other trading activities 2 13,177 8,342 21,519 3,475
Total 75,923 23,420 99,343 157,278
EXPENDITURE ON
Other 69,086 23,030 92,116 104,744
NET INCOME 6,837 390 7,227 52,534
Transfers between funds 9 15,359 (15,359) - -
Net movement in funds 22,196 (14,969) 7,227 52,534
RECONCILIATION OF FUNDS
Total funds brought forward 134,655 32,428 167,083 114,549
TOTAL FUNDS CARRIED FORWARD 156,851 17,459 174,310 167,083
----- End of picture text -----

The notes form part of these financial statements

Page 4

SEDBERGH YOUTH AND COMMUNITY CENTRE

STATEMENT OF FINANCIAL POSITION 31 MARCH 2022

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2022 2021
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 57,753 - 57,753 47,698
Investments 6 1,405 - 1,405 1,405
-
59,158 59,158 49,103
CURRENT ASSETS
Debtors 7 - 15,665 15,665 16,445
Cash at bank and in hand 99,492 1,794 101,286 102,374
99,492 17,459 116,951 118,819
CREDITORS
Amounts falling due within one year 8 (1,799) - (1,799) (839)
NET CURRENT ASSETS 97,693 17,459 115,152 117,980
TOTAL ASSETS LESS CURRENT LIABILITIES 156,851 17,459 174,310 167,083
NET ASSETS 156,851 17,459 174,310 167,083
FUNDS 9
Unrestricted funds 156,851 134,655
Restricted funds 17,459 32,428
TOTAL FUNDS 174,310 167,083
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The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. H M Buck - Trustee

The notes form part of these financial statements

Page 5

SEDBERGH YOUTH AND COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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, with the exception of investments which are included at market value.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Details of these judgements can be found in the accounting policies.

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.

Improvements to property - 10% on cost Computer equipment - 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to the income statement.

Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

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.

Page 6

continued...

SEDBERGH YOUTH AND COMMUNITY CENTRE

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

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. OTHER TRADING ACTIVITIES

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|||| |---|---|---| |2022|2021| |£|£| |Other income|21,519|3,475|

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3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

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||||| |---|---|---|---| |Unrestricted|Restricted|Total| |fund|fund|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|28,221|125,582|153,803| |-| |Other trading activities|3,475|3,475| |Total|31,696|125,582|157,278| |EXPENDITURE ON| |Other|14,047|90,697|104,744| |NET INCOME|17,649|34,885|52,534| |Transfers between funds|6,698|(6,698)|-| |Net movement in funds|24,347|28,187|52,534| |RECONCILIATION OF FUNDS| |Total funds brought forward|110,308|4,241|114,549| |TOTAL FUNDS CARRIED FORWARD|134,655|32,428|167,083|

----- End of picture text -----

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continued...

SEDBERGH YOUTH AND COMMUNITY CENTRE

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

5. TANGIBLE FIXED ASSETS

Improvements
to
property
£
COST
At 1 April 2021
57,108
Additions
16,099
At 31 March 2022
73,207
DEPRECIATION
At 1 April 2021
10,716
Charge for year
7,321
At 31 March 2022
18,037
NET BOOK VALUE
At 31 March 2022
55,170
At 31 March 2021
46,392
6.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 April 2021 and 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021
There were no investment assets outside the UK.
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
9.
MOVEMENT IN FUNDS
Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
134,655
6,837
Restricted funds
Restricted
32,428
390
TOTAL FUNDS
167,083
7,227

Computer
equipment
Totals
£
£
3,098
60,206
3,432
19,531
6,530
79,737
1,792
12,508
2,155
9,476
3,947
21,984
2,583
57,753
1,306
47,698
Unlisted
investments
£
1,405
1,405
1,405
2022
2021
£
£
15,665
16,445
2022
2021
£
£
1,799
839
Transfers
between
At
funds
31.3.22
£
£
15,359
156,851
(15,359)
17,459
-
174,310

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continued...

SEDBERGH YOUTH AND COMMUNITY CENTRE

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

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted	Incoming Resources resources expended £ £ 75,923 (69,086) 23,420 (23,030)	Movement in funds £ 6,837 390
TOTAL FUNDS	99,343 (92,116)	7,227

Comparatives for movement in funds

Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS	At 1.4.20 £ 110,308 4,241 114,549	Net movement in funds £ 17,649 34,885 52,534	Transfers between funds £ 6,698 (6,698) -	At 31.3.21 £ 134,655 32,428 167,083

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS	Incoming resources £ 31,696 125,582 157,278	Resources Movement expended in funds £ £ (14,047) 17,649 (90,697) 34,885 (104,744) 52,534

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS	At 1.4.20 £ 110,308 4,241 114,549	Net movement in funds £ 24,486 35,275 59,761	Transfers between funds £ 22,057 (22,057) -	At 31.3.22 £ 156,851 17,459 174,310

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continued...

SEDBERGH YOUTH AND COMMUNITY CENTRE

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

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted	Incoming Resources resources expended £ £ 107,619 (83,133) 149,002 (113,727)	Movement in funds £ 24,486 35,275
TOTAL FUNDS	256,621 (196,860)	59,761

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 10

SEDBERGH YOUTH AND COMMUNITY CENTRE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 77,824 153,803
Other trading activities
Other income 21,519 3,475
Total incoming resources 99,343 157,278
EXPENDITURE
Other
Cafe 415 24
Equipment and materials 4,485 3,993
Hospitality 288 27
-
ESF Project costs 10,192
5,188 14,236
Support costs
Management
Wages 46,503 57,815
Pensions 3,837 1,516
Insurance 995 3,072
Light and heat 4,224 3,996
Sundries 5,085 1,478
-
Payroll costs 1,513
60,644 69,390
Finance
Bank charges 109 -
Improvements to property 7,321 5,712
Computer equipment 2,155 1,033
9,585 6,745
Information technology
Repairs and renewals 2,805 4,186
Cleaning 8,862 7,614
11,667 11,800
Governance costs
Accountancy and legal fees 1,800 840
Office expenses 3,232 1,733
5,032 2,573
Total resources expended 92,116 104,744
Net income 7,227 52,534
----- End of picture text -----

This page does not form part of the statutory financial statements

Page 11