REGISTERED CHARITY NUMBER: 526894
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
Arnside Educational Institute
Stables Thompson & Briscoe Ltd Chartered Accountants & Business Advisors Lowther House Lowther Street Kendal LA9 4DX
Arnside Educational Institute
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 17 |
| Detailed Statement of Financial Activities | 18 to 19 |
Arnside Educational Institute
Reference and Administrative Details for the Year Ended 31 December 2021
| TRUSTEES | Mr R Horncastle Chair |
|---|---|
| Mrs P Thompson Vice Chair | |
| Mrs S I Harrison Secretary | |
| Mr N Webster Treasurer | |
| Mrs D Clubb | |
| Mr R Harrison | |
| Dr V Mautner | |
| Mrs N Platts (resigned 2.10.21) | |
| Dr F Stevens (resigned 2.10.21) | |
| Mr M Whitmarsh | |
| J P Davies (appointed 2.10.21) | |
| J C Gibbs (appointed 2.10.21) | |
| J Race (appointed 2.10.21) | |
| V Stringer (appointed 2.10.21) | |
| E M Walters (appointed 2.12.21) | |
| PRINCIPAL ADDRESS | Church Hill |
| Arnside | |
| LA5 0DF | |
| REGISTERED CHARITY | 526894 |
| NUMBER | |
| INDEPENDENT EXAMINER | Stables Thompson & Briscoe Ltd |
| Chartered Accountants & Business Advisors | |
| Lowther House | |
| Lowther Street | |
| Kendal | |
| LA9 4DX |
Page 1
Arnside Educational Institute
Report of the Trustees for the Year Ended 31 December 2021
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objectives of the charity are:
-
To promote the education of persons residing in the parish of Arnside and surrounding areas.
-
The land may be used as a village hall for use by the inhabitants of the area of benefit without distinction of political, religious or other opinions, including use for:
a. meetings, lectures and classes;
b. other forms of recreation and leisure-time occupation, with the object of improving the conditions of life for the inhabitants.
Public benefit
The institute awarded educational grants amounting to £1,588 (2020 - £1,424) in the year.
Other activities have continued as in previous years, with the hire of the Institute for activities such as Badminton & Table Tennis, Computer Club, embroidery classes, Scrabble, Pilates, dance classes, Archive Group as well as Snooker facilities and the Bridge Club.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Grantmaking
The scheme has allowed the charity to make educational grants, which are made to college and university students from the village and to community associations which could show an educational element in their projects. Details of how to apply for grants may be obtained from the Office Manager.
A bequest of £40,000 was left by Dr Margaret Jackson for disadvantaged children of Arnside, to be administered by the Trustees. At present £36,949 is invested with Nucleus Financial Services Ltd and funds are drawn from this investment as required to make grants. Enquiries about grants may be made through the Office Manager or through Arnside National C.E. School.
Volunteers
The Trustees are grateful for the efforts of volunteers who were involved in service provision and fundraising.
Page 2
Arnside Educational Institute
Report of the Trustees for the Year Ended 31 December 2021
FINANCIAL REVIEW
Investment policy and objectives
Joyce Nicholson left the Institute an investment portfolio which is managed by Nucleus Financial Services Ltd under the guidance of an Independent Financial Advisor, RDBIFS Ltd. The investments are in a mixture of Equities, Property and Fixed Interest Funds. The value of the investments rose in the year, reversing last year's fall.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which approximates to about six months unrestricted expenditure. This does not include the Margaret Jackson bequest which the trustees have set aside in accordance with the benefactor's wishes. Free reserves as at the end of the year end were £47,062 (2020 - £54,690) which equates to around eleven months unrestricted expenditure. The charity does not feel this is excessive.
Covid during the year
The day to day activities of the institute have been severely restricted since the Covid 19 pandemic resulted in a temporary closure of the building in March 2020.
The Institute has reopened for limited activities and for short periods of time during 2020 when permitted by government legislation. We partly reopened again on 12 April 2021 and all restrictions were lifted in July 2021 although numbers in most activities still haven't returned to their pre covid levels. The government has supported the Institute and many other organisations by grants and payments to staff whilst on furlough. This support has limited the deficit we have incurred during the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Arnside Educational Institute was founded in 1873, to promote social activities and educational and cultural interests. The original trust deed (which envisaged a school) was out of date and the Trustees agreed a new Constitution or 'Scheme' with the Charity Commissioners dated 13 October 2003.
Page 3
Arnside Educational Institute
Report of the Trustees for the Year Ended 31 December 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
The Institute is managed by the Officers and the Committee of Trustees. Various sub-committees also exist to manage different aspects of the Institute's activities, and all report to the Committee of Trustees.
The Committee of Trustees consists of six appointed committee members who represent user organisations and who are elected at a meeting of representatives prior to the AGM and six committee members who are elected at the AGM. From these twelve members the four officers are elected at the AGM. All committee members are elected for a term of one year. Up to two additional committee members may be co-opted during the year at a special meeting.
Most members join to take part in one or more of the activities at the Institute. There are over 200 members and many other regular users of the Institute facilities.
The Trustees meet eight times a year, or thereabouts, to receive reports of progress and make plans for the future. The day to day work is carried out by the sub-committees, namely Finance and House & Gardens committees.
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to keep these risks acceptably small.
Approved by order of the board of trustees on 17 March 2022 and signed on its behalf by:
Mr R Horncastle - Trustee
Page 4
Independent Examiner's Report to the Trustees of Arnside Educational Institute
Independent examiner's report to the trustees of Arnside Educational Institute
I report to the charity trustees on my examination of the accounts of Arnside Educational Institute (the Trust) for the year ended 31 December 2021.
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
-
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.
Helen Holmes FCA BSc ICAEW Stables Thompson & Briscoe Ltd Chartered Accountants & Business Advisors Lowther House Lowther Street Kendal LA9 4DX
Date: .............................................
Page 5
Arnside Educational Institute
Statement of Financial Activities for the Year Ended 31 December 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 4 Hall lettings Bridge members annual subscriptions Investment income 3 Total EXPENDITURE ON Raising funds 5 Charitable activities 6 Grants to Institutions Educational grants to individuals Hall lettings Independent examiner fees Bridge members annual subscriptions Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 22,448 16,312 500 1,622 40,882 3,666 100 1,200 45,886 1,336 - 52,188 41,262 29,956 867,541 897,497 |
Restricted funds £ - - - - - 362 - 388 - - 500 1,250 3,550 2,300 36,149 38,449 |
31.12.21 Total funds £ 22,448 16,312 500 1,622 40,882 4,028 100 1,588 45,886 1,336 500 53,438 44,812 32,256 903,690 935,946 |
31.12.20 Total funds £ 17,671 16,658 - 15,557 49,886 780 600 1,424 49,050 1,334 - 53,188 (38,791) (42,093) 945,783 903,690 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 6
Arnside Educational Institute
Balance Sheet 31 December 2021
| Notes FIXED ASSETS Tangible assets 12 Investments 13 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 360,000 490,435 850,435 49,744 (2,682) 47,062 897,497 897,497 |
Restricted funds £ - 36,949 36,949 1,500 - 1,500 38,449 38,449 |
31.12.21 Total funds £ 360,000 527,384 887,384 51,244 (2,682) 48,562 935,946 935,946 897,497 38,449 935,946 |
31.12.20 Total funds £ 360,000 486,611 846,611 60,435 (3,356) 57,079 903,690 903,690 867,541 36,149 903,690 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 March 2022 and were signed on its behalf by:
Mr R Horncastle - Trustee
The notes form part of these financial statements
Page 7
Arnside Educational Institute
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
The charity receives government grants in respect of hall refurbishment. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established.
continued...
Page 8
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES - continued
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Freehold land and buildings are held at valuation which is reviewed on a regular basis.
The latest valuation was at 31 December 2019 and was done by the trustees.
Land is not depreciable and as the property is maintained to a high standard the trustees believe any depreciation charge is not material and instead have regular impairment reviews.
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.
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.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.
continued...
Page 9
Arnside Educational Institute
| Notes to the Financial Statements - continued for the Year Ended 31 December 2021 2. DONATIONS AND LEGACIES Donations Legacies Government grants Subscriptions 3. INVESTMENT INCOME Income from listed investments Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity Library rental Hall lettings Hire of rooms Hall lettings Snooker Hall lettings Bridge Hall lettings Table tennis Hall lettings Bridge Bridge members annual subscriptions |
31.12.21 £ 66 - 20,783 1,599 22,448 31.12.21 £ 1,616 6 1,622 31.12.21 £ 8,740 4,242 1,725 909 696 500 16,812 |
31.12.20 £ - 500 14,754 2,417 |
|---|---|---|
| 17,671 | ||
| 31.12.20 £ 15,430 127 |
||
| 15,557 | ||
| 31.12.20 £ 8,619 5,029 910 1,440 660 - |
||
| 16,658 |
continued...
Page 10
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 5. RAISING FUNDS Investment management costs Portfolio management 6. CHARITABLE ACTIVITIES COSTS Direct Costs £ Grants to Institutions - Educational grants to individuals - Hall lettings 45,886 Independent examiner fees - Bridge members annual subscriptions - 45,886 7. GRANTS PAYABLE Grants to Institutions Educational grants to individuals Bridge members annual subscriptions The total grants paid to institutions during the year was as Arnside Broadsheet Arnside Guides/Brownies |
Grant funding of activities (see note 7) £ 100 1,588 - - 500 2,188 follows: |
31.12.21 £ 4,028 Support costs (see note 8) £ - - - 1,336 - 1,336 31.12.21 £ 100 1,588 500 2,188 31.12.21 £ 100 - 100 |
31.12.20 £ 780 Totals £ 100 1,588 45,886 1,336 500 |
31.12.20 £ 780 Totals £ 100 1,588 45,886 1,336 500 |
|---|---|---|---|---|
| Totals £ 100 1,588 45,886 1,336 500 |
||||
| 49,410 | ||||
| 31.12.20 £ 600 1,424 - 2,024 31.12.20 £ 100 500 600 |
||||
| 600 |
continued...
Page 11
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
8. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Independent examiner fees | 1,336 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
10. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Office manager and caretaker No employees received emoluments in excess of £60,000. |
31.12.21 £ 16,690 272 16,962 31.12.21 2 |
31.12.20 £ 16,693 287 |
|---|---|---|
| 16,980 | ||
| 31.12.20 2 |
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Hall lettings Investment income Total EXPENDITURE ON Raising funds |
Unrestricted funds £ 17,170 16,658 14,245 48,073 718 |
Restricted funds £ 501 - 1,312 1,813 62 |
Total funds £ 17,671 16,658 15,557 |
|---|---|---|---|
| 49,886 780 |
continued...
Page 12
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ Charitable activities Grants to Institutions 600 - Educational grants to individuals 1,000 424 Hall lettings 49,050 - Independent examiner fees 1,334 - Total 52,702 486 Net gains/(losses) on investments (37,594) (1,197) NET INCOME/(EXPENDITURE) (42,223) 130 RECONCILIATION OF FUNDS Total funds brought forward 909,764 36,019 TOTAL FUNDS CARRIED FORWARD 867,541 36,149 12. TANGIBLE FIXED ASSETS Freehold property Car park £ £ COST At 1 January 2021 and 31 December 2021 300,000 60,000 NET BOOK VALUE At 31 December 2021 300,000 60,000 At 31 December 2020 300,000 60,000 |
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ Charitable activities Grants to Institutions 600 - Educational grants to individuals 1,000 424 Hall lettings 49,050 - Independent examiner fees 1,334 - Total 52,702 486 Net gains/(losses) on investments (37,594) (1,197) NET INCOME/(EXPENDITURE) (42,223) 130 RECONCILIATION OF FUNDS Total funds brought forward 909,764 36,019 TOTAL FUNDS CARRIED FORWARD 867,541 36,149 12. TANGIBLE FIXED ASSETS Freehold property Car park £ £ COST At 1 January 2021 and 31 December 2021 300,000 60,000 NET BOOK VALUE At 31 December 2021 300,000 60,000 At 31 December 2020 300,000 60,000 |
Total funds £ 600 1,424 49,050 1,334 53,188 (38,791) (42,093) 945,783 903,690 Totals £ 360,000 360,000 360,000 |
|---|---|---|
The properties were revalued in the year by the trustees.
The properties were valued on the basis of two occupational leases on an existing use basis.
There are no records for a cost basis. The properties were valued in 2000 initially for incorporation into the accounts and have been revalued on a regular basis since.
continued...
Page 13
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
13. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2021 Additions Disposals Revaluations At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Listed investments £ 486,611 108,000 (112,819) 45,592 527,384 527,384 486,611 |
|---|---|
There were no investment assets outside the UK.
| 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors 15. MOVEMENT IN FUNDS At 1.1.21 £ Unrestricted funds General fund 54,690 Building fund 360,000 Joyce Nicholson Bequest 452,851 867,541 Restricted funds Professor M Jackson legacy 35,649 Bequest to support bridge subscriptions in 2021 500 36,149 TOTAL FUNDS 903,690 |
31.12.21 £ 516 125 2,041 2,682 Net movement in funds £ (7,628) - 37,584 29,956 2,800 (500) 2,300 32,256 |
31.12.20 £ 1,882 104 1,370 3,356 At 31.12.21 £ 47,062 360,000 490,435 |
|---|---|---|
| 897,497 38,449 - |
||
| 38,449 | ||
| 935,946 |
continued...
Page 14
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Joyce Nicholson Bequest Restricted funds Professor M Jackson legacy Bequest to support bridge subscriptions in 2021 TOTAL FUNDS |
Incoming resources £ 40,894 (12) 40,882 - - - 40,882 |
Resources expended £ (47,742) (4,446) (52,188) (750) (500) (1,250) (53,438) |
Gains and Movement losses in funds £ £ (780) (7,628) 42,042 37,584 41,262 29,956 3,550 2,800 - (500) 3,550 2,300 44,812 32,256 |
Gains and Movement losses in funds £ £ (780) (7,628) 42,042 37,584 41,262 29,956 3,550 2,800 - (500) 3,550 2,300 44,812 32,256 |
|---|---|---|---|---|
| 29,956 2,800 (500) |
||||
| 2,300 | ||||
| 32,256 |
Comparatives for movement in funds
| Unrestricted funds General fund Building fund Joyce Nicholson Bequest Restricted funds Professor M Jackson legacy Bequest to support bridge subscriptions in 2021 TOTAL FUNDS |
At 1.1.20 £ 58,673 360,000 491,091 909,764 36,019 - 36,019 945,783 |
Net movement in funds £ (3,983) - (38,240) (42,223) (370) 500 130 (42,093) |
At 31.12.20 £ 54,690 360,000 452,851 |
|---|---|---|---|
| 867,541 35,649 500 |
|||
| 36,149 | |||
| 903,690 |
continued...
Page 15
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Joyce Nicholson Bequest Restricted funds Professor M Jackson legacy Bequest to support bridge subscriptions in 2021 TOTAL FUNDS |
Incoming resources £ 48,073 - 48,073 1,313 500 1,813 49,886 |
Resources expended £ (52,702) - (52,702) (486) - (486) (53,188) |
Gains and Movement losses in funds £ £ 646 (3,983) (38,240) (38,240) (37,594) (42,223) (1,197) (370) - 500 (1,197) 130 (38,791) (42,093) |
Gains and Movement losses in funds £ £ 646 (3,983) (38,240) (38,240) (37,594) (42,223) (1,197) (370) - 500 (1,197) 130 (38,791) (42,093) |
|---|---|---|---|---|
| (42,223) (370) 500 |
||||
| 130 | ||||
| (42,093) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Building fund Joyce Nicholson Bequest Restricted funds Professor M Jackson legacy TOTAL FUNDS |
At 1.1.20 £ 58,673 360,000 491,091 909,764 36,019 945,783 |
Net movement in funds £ (11,611) - (656) (12,267) 2,430 (9,837) |
At 31.12.21 £ 47,062 360,000 490,435 |
|---|---|---|---|
| 897,497 38,449 |
|||
| 935,946 |
continued...
Page 16
Arnside Educational Institute
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
15. 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 Joyce Nicholson Bequest Restricted funds Professor M Jackson legacy Bequest to support bridge subscriptions in 2021 TOTAL FUNDS |
Incoming resources £ 88,967 (12) 88,955 1,313 500 1,813 90,768 |
Resources expended £ (100,444) (4,446) (104,890) (1,236) (500) (1,736) (106,626) |
Gains and Movement losses in funds £ £ (134) (11,611) 3,802 (656) 3,668 (12,267) 2,353 2,430 - - 2,353 2,430 6,021 (9,837) |
|---|---|---|---|
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 17
Arnside Educational Institute
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |
||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 66 | - |
| Legacies | - | 500 |
| Government grants | 20,783 | 14,754 |
| Subscriptions | 1,599 | 2,417 |
| 22,448 | 17,671 | |
| Investment income | ||
| Income from listed investments | 1,616 | 15,430 |
| Deposit account interest | 6 | 127 |
| 1,622 | 15,557 | |
| Charitable activities | ||
| Library rental | 8,740 | 8,619 |
| Hire of rooms | 4,242 | 5,029 |
| Snooker | 1,725 | 910 |
| Bridge | 1,409 | 1,440 |
| Table tennis | 696 | 660 |
| 16,812 | 16,658 | |
| Total incoming resources | 40,882 | 49,886 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 4,028 | 780 |
| Charitable activities | ||
| Wages | 16,690 | 16,693 |
| Pensions | 272 | 287 |
| Rates and water | 453 | 450 |
| Insurance | 1,591 | 1,632 |
| Light and heat | 2,592 | 2,535 |
| Telephone | 1,494 | 1,458 |
| Postage and stationery | 740 | 542 |
| Sundries | 1,152 | 1,291 |
| Repairs and renewals | 19,750 | 22,683 |
| Carried forward | 44,734 | 47,571 |
This page does not form part of the statutory financial statements
Page 18
Arnside Educational Institute
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 44,734 | 47,571 |
| Towels, cleaning and hygiene | 1,152 | 1,479 |
| Grants to institutions | 100 | 600 |
| Grants to individuals | 2,088 | 1,424 |
| 48,074 | 51,074 | |
| Support costs | ||
| Governance costs | ||
| Independent examiner fees | 1,336 | 1,334 |
| Total resources expended | 53,438 | 53,188 |
| Net expenditure before gains and losses | (12,556) | (3,302) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset | ||
| investments | 44,812 | (38,791) |
| Net income/(expenditure) | 32,256 | (42,093) |
This page does not form part of the statutory financial statements
Page 19