Sprln8 Bank Communlty A550clatlon Charlty No. 700591 Trustees, Report and Unaudlted Accounts 31 December 2021
spring Bank Community Association Contents Pages 2to3 Trustees, Annual Report Statement of Financial Activities Balance Sheet Statement of Cash flow5 13 Note5 to the Accounts 6t012 Detalled Statement of Flnanclal Actlvltles 14to15 Page I
Sprlng Bank Community Association Trustees Annual Report The Trustees present thelr report with the unaudited financial statement5 of the charity for the year ended 31 December2021. REFERENCEANDADMINISTRATIVE DETAILS Charlty No. 700591 Trustees The following Trustees served during the year.. Frank McConaghy- Chairperson Victoria Start- Vice-chairperson Lee Moore- Secretary Mohammad Younus-Treasurer Management Commlttee Members,. Maurlce Campbell Ryan start Zakkary Campbell Fayka Abdo Joshua Ward Mark Lowsley Steven Higham5 Gordan Mccann Gene Mccann Maxlne Joyce Ben West Rhys Clark Accountants Intultive Accountlng Unit G7. The Bloc 38 Sprlngfield Way Anlaby Hull HUIO 6RJ Annual Report As wlth many other charlties, we have had very a difficult year. We had to focus our efforts on outreach activlties that we adapted too qulte qulckly. We also managed to run a Kickstart scheme for 4 young people who benefitted greatly. We could almost see the progress they all made during their stay and that was also rewarding for our staff. Page 2
Spring Bank Community Association Trustees Annual Report
Although our room hire revenue was dramatically reduced, we were lucky in that we benefitted from an increase in grant funding. We were able to concentrate on our outreach project and we managed to help in excess of three hundred people. The people who benefitted were the old often housebound and socially isolated. Other clients we identified via phone and leafletting just could not use modern communication devices.
We managed to help them by giving them devices like tv portals and tablets which we prepopulated with their info via phone before delivering them with very simple start up instructions. We also managed to provide equipment to the adjacent junior school, 2 ladies aid groups and 2 care homes.
With 2 of the Kickstart employees we managed to do some alterations to the computer workshop, the outside portakabin, reroof the metal container and many small jobs including gardening around the centre. The other 2 Kickstart employees learned computer repairs and upgrades in our IT worksop.
We managed to comply with all the Covid regulations whilst later allowing some activities to recommence with Covid compliance.
At the end of the year, we managed to provide every pupil at Collingwood school a bag of fruit as they left school for the Christmas holidays. Overall, because of that and despite a difficult year, the year ended on a bright note.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that 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, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
F. Mcconaghy Trustee
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Sprfng Bank Communlty Association Statement of Financial Activities for the year ended 31 DÉcomber 2021 UnrestrS¢te d fund5 2021 Restrlrted funds Total funds Total funds 2021 2021 2020 Notes Income and endowments from: Donations and legacies Charitable activities Investments 72,648 6,936 72,648 6,936 70,673 7,842 other 7,040 7,040 17,954 Total 86,626 86,626 96,469 Expenditure on: Other 101,494 101,494 57,273 Total 101,494 101,494 57,273 Net gains on investments Net lexpendlturel/lncome Transfers between funds 114,8681 114,8681 39,196 Net lexpendlturelllncome before other 8aln511105sesl 114,8681 114,8681 39,196 Other galns and105$es Net movement In funds 114,8681 114,8681 39,196 Reconclllatlon of funds., Total funds brought forward 66,665 16,567 83,232 ¢4,036 Total funds Carrled forward 51,797 16,567 68,364 83,232 Page 4
Spring Bank Community Association Balance Sheet
at 31 December 2021
| Spring Bank Community Association Balance Sheet at 31 December 2021 |
|||
|---|---|---|---|
| Charity No. 700591 | 2021 | 2020 | |
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 10 | 41,935 | 43,325 |
| 41,935 | 43,325 | ||
| Current assets | |||
| Debtors | 11 | 174 | 22 |
| Cash at bank and in hand | 28,007 | 40,963 | |
| 28,181 | 40,985 | ||
| Creditors:Amount falling due within one year | 12 | (1,752) | (1,078) |
| Net current assets | 26,429 | 39,907 | |
| Total assets less current liabilities | 68,364 | 83,232 | |
| Net assets excluding pension asset or liability | 68,364 | 83,232 | |
| Total net assets | 68,364 | 83,232 | |
| The funds of the charity | |||
| Restricted funds | 13 | ||
| Restricted income funds | 16,567 | 16,567 | |
| 16,567 | 16,567 | ||
| Unrestricted funds | 13 | ||
| General funds | 51,797 | 66,665 | |
| 51,797 | 66,665 | ||
| Reserves | 13 | ||
| Total funds | 68,364 | 83,232 | |
| Approved by the trustees on 23 March 2022 | |||
| And signed on their behalf by: | |||
| �f f�� F. Mcconaghy |
|||
| Trustee | |||
| 23 March 2022 |
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Spring Bank Community Association Notes to the Atcounts for the year ended 31 December 2021 l Accounting policies Basis of preparatlon The flnanclal statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Flnanclal Reporting Standard applicable In the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republlc of Ireland IFRS 1021 and the Charitles Act 2011. Change In basls of a¢countln8 or to prevSous accounts There has been no change to the accounting policies Ivaluation rules and method of accountlngl slnce last yeay and no changes have been made to accounts for previous years. Fund accountlng Unrestritted funds These are avallable for use at the dlscretion of the trustee5 In furtherance of the general oblects of the charltv. These are unrestricted funds earmarked by the trustees for partlcular purposes. These are unrestrScted funds whlch include ? revaluation reseNe representing the restatement of Investment assets at thelr market values. These are avallable for use subjert to re5triction5 Imp05ed by the donor or through terms of an appeal. Deslgnated funds Revaluatlon funds Restrlcted funds Income Recognltlon of Income Income Is Included In the Statement of Flnanclal Actlvlties ISOFAI when the charlty becomes entltled to, and virtually certaln to recelve, the Income and the amount of the Income can be measured wlth sufficlent reliablllty. Income with related Where Incorne has related expendlture the Income and related expendlture Ss expendSture reported gross In the SOFA. Don)tlons and legacies Voluntary Incorne recefved by way of grants, donatlons and glfts Is Included In the the SOFA when recelvable and only when the Charlty has unconditional entitlement to the income. Tax reclalms on Income from tax reclairns Is Included In the SOFA at the same tlme as the donation5 and 8ifts 8ift/donation to which it relates. Donated Services These are only inclLsded in Income IwSth an equlvalent amount In expenditu) where the beneflt to the Charltyls reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the atcounts. Investment income Thi5 is included in the accounts when receivable. Galnslllossesl on Thls Includes any galn or1055 resultin8 from revaluin8 inve5tment5 to market value revaluation of fixed at the end of the year. assets Gain51llossesl on investment assets and facilltles This includes any gain or loss on the sale of investments. Page 6
Spring Bank Community Association Note5 to the A¢counts Exp¢ndlture Recognition of expenditure Expenditure is recognised on an accruals basi5. Expenditure Include5 any VAT whlch cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds tradlng costs and Investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activitles serylces In the furtherance of fts object5, including the m)kins of grants and governance costs. All grant expendtture is accounted for on an actual paid basls plu5 an accrual for 8rantS thot hove been approved by the trustees at the end of the year but not yet paid. These include those cost5 associated wlth meeting the constitutlonal and statutory requirements of the Charitvi including any auditlindependent examlnatlon fees, costs Ilnked to the strategic man?8ement of the Charity, together wlth a share of other administration costs. These are support C05t5 not allocated to a partlcular actlvltv. Grants payable Governance costs Other expendilure TaxatSon The charlty Is exempt from tax on Its charltable activltles. Freehold Investment property Investment properties are measured Inltlally at cost and subsequently at falr value at each balance sheet date and are not depreclated. All galns or losses are taken to the Statement of Flnancial Actlvities as they arlse. Stock5 Stock Is included at the lower of cost or net reali58ble value. Donated Items of stock are recognlsed at falr value whlch Is the amount the charlty would have been w1111ng to pay for the Items on the open Market. Trade and other debtors Trade and other debtors are recoeni5ed at the settlement amount due after any trade dSscount offered. Prepayments are valued at the amount prepaid het of any trade dlscounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term hi8hly liquid inve5tment5 Wlth ori8inal maturitie5 of three months or less and bank overdrafts. In the Statement of financial position, bank overdrafts are shown within borrowinES or current IlabllStles. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Shart term creditors are measured at the transaction price. Other creditors and provisions are recogni5ed where the charlty has a present obllgatlon resvltlng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obli8ation can be measured or estlmated rellably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 7
Spring Bank Community Association Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and 113blllties denomlnated In currencles other than the functlonal currency of the charity are translated at the rate5 of exchan8e prevailin8 at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transactlon occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charlty enters into a lease which entails taking substantially all the risks and reward5 of ownership of an a55et, the lease is treated as e finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held uhder finance leases are initially recognised as assets of the charity at thelr falr value at the Inception of the lease or, If lower, at the present value of the mlnlmum lease payments. The correspondlng Ilablllty to the lessor Is included In the balance sheet date as a flnance lease obllBatS0n. Lease payments are apportloned between flnance expenses and reduction of the lease obllgation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are reco8nlsed Immedlately, unles5 they are dlrectly attrlbutable ta quallfylng assets. In which case they are capltallsed in accordance with the charity's policy on borrowlng costs. Assets held under flnance leases are depreciated In the same way as owned assets. Operatln8 lease payments are reco8nlsed as an expense on a stralght-llne basls over the lease term, In the event that lease Incentlves are recelved to enter Into operatSn8 leases, such Incentlve5 are recognlsed as a liability. The aggregate beneflt of Incentlves Is recognlsed as a reductlon of rental expense on a stralBht-Ilne basls, Penslon costs The charlty operates a deflned contrlbutlon plan for Its employees. A deflned contrlbutlon plan Is pension plan under whlch the charity pays fixed contrlbutlons into a separate entity. Once the contrlbutlons have been pald the charlty has no further payments obligations. The contrlbutions Bre recognlsed as expenses when they fall due. Amounts not pald are shown In accruals In the balance sheet. The assets of the plan are held Separately from the charity In Sndependently adminlstered funds. Receipt of donated 8oods, facililies and 5ervice5 All donated good5, facilities and 5ervice5 received are recognised within incofflin8 resources and expendlture at an estlmate of the value to the charlty. Page 8
Spring Bank Communlty Assoclation Note5 to the Accounts 2 Statement of Financial Actlvities- prlor year Unrestricted funds 2020 Restricted funds Total funds 2020 2020 Income and endowments from: Donations and legacies Charitable attivities other 70,673 7,842 17,954 70,673 7,842 17,954 Total 96,469 96,469 Expendlture on: Other 57,273 57,273 Total 57,273 57,273 Net income 39,196 39,196 Net income before other 8aln5111055es1 Other galns and losses.. Net movement In funds 39,196 39,196 39,196 39,196 Reconcillatlon of funds: Total funds brought forward Total funds carrled forward 27,469 16,567 44,036 66,665 16,567 83,232 3 Income from donatlons and legacles Unrestrlcted Total 2021 Total 2020 Grants 70,742 1,906 72,648 70,742 1,906 72,648 65,825 4,848 70,673 utllity Sub51dlary Donated goods, facilities and services received Total 2021 Total 2020 Grants utility Subsidiary 70,742 1,906 72,648 65,823 4,848 70,671 Page 9
Spring Bank Community A5SO¢latiort Note5 to the Accounts 4 Income from charitable actlvltles Unrestricted Total Total 2021 2020 Room Hire 6,936 6,936 6,936 6,936 7,842 7,842 5 Income from Investments Unrestricted Total Total 2021 2020 Qeposlt Account Interest Recelved 6 Other Income Unrestrlcted Total 2021 Total 2020 HMRCCJRSGrants 7,040 7,040 7,040 7,040 17,954 17,954 7 Other expendlture Unrestrlcted Total 2021 Total 2020 Employee costs Mottsr and travel costs 73,473 967 73,473 967 33,008 Premlses costs Amortlsatlon, depreclatlon, Impalrment, profltlloss on disposal of fixed assets General administrative costs 3,597 3,597 4,641 3,624 3,624 2,910 19,091 742 19,091 742 16,064 650 Legal and professional costs 101,494 101,494 57,273 8 Net leMpendlturel/lncome before transfers 2021 2020 This is stated after tharging: Depreciation of owned fixed asset5 9 Staff costs Salaries and wages 3,624 2,910 72,808 72,808 33,008 33,008 No employee received emoluments in @xc@ss of £60,]0. PaEe 10
Spring Bank Community Associatlon Notes to the Accounts 10 Tangible flxed assets Cost or revaluation At l January 2021 Additions 20,972 73,695 2,234 75,929 94,667 2,234 96,901 At 31 December 2021 Depreciation and Impalrment At I january 2021 Depreciation char6e for the vear At 310ecember 2021 20,972 51,342 51,342 3.624 3,624 54,966 54,966 Net book values At 31 December 2021 At 31 December 2020 11 Debtors 20,972 20,972 20,963 22,353 41,935 43,325 2021 2020 Other debtors 174 22 174 22 12 CredStors: amounts falllng due wlthln one year 2021 2020 Accruals and deferred Income 1,7S2 1,752 1,078 1,078 13 Movement In funds IncomSng resources At31 (Including other At l January galnsllosses 2021 Resources expended December 2021 Rtstrlcted lunds: Restricted income funds: 16,567 16,567 Total 16,567 16,567 Unrestricted funds: General funds 66,665 86,626 1101,4941 51,797 Revaluation Reserv8S: Total funds 83.232 86,626 1101,4941 68,364 Page 11
Spring Bank Community Asso¢iatlon Notes to the Accounts 14 Analys1$ of net assets between funds Unrestrlcted funds Total Fixed assets Net current assets 41,935 26.429 68,364 41,935 26,429 68,364 IS Reconclliation of net debt At31 Oecember 2021 At lJanuary 2021 Cash flows Cash and cash equlvalents 40,963 40,963 112,9561 112,9561 28,007 28,007 Net debt 40,963 112,9561 28,007 Page 12
Spring Bank Community Association Statement of Cash flows for the year ended 31 December 2021 2021 2020 Cash flows from operatlng artlvltles Net lexpenditurel/income per Ststement of Financial Artivities 114,8681 39,196 Adjustments for: Depreciation of propertyi plant and equipment Dlvidend5, interest and rent5 from investments Iftcree In trade and other recelvables Increase/lOecreasel In trade and other payables 3,624 17,0421 11521 674 2,910 117,9541 1221 12721 Net cash (used inllprovided by operating activities 117,7641 23,8S8 Cash flow5 from Investlng artSvltles Payments for propertyi plant and equipment Dlvldends, Interest and rents from Investments 12,2341 7,042 18,6121 17,954 Net cash from Investln8 actlvltles 4,808 9,342 Net Cash from flnanclng actlvltles Net Idecreaselllncrease In cash and cash equlvalents 112,9561 33,200 Cash and cash equlvalents at the be8lnnln8 of the year 40,963 7,763 Cash and cash equlvalents at thè end of the year 28,007 40,963 Components of cash and cash equlvalents Cash and bank balances 28,007 40,963 28,007 40,963 Page 13
Spring Bank Community Association Detailed Statement of Financial Activities for the year ended 31 December 2021 Unrestricted funds 2021 Total funds 2021 Total funds 2020 Income and endowments from: Donations and legacles Grants Utlllty Subsldlary 70,742 1,906 72,648 70,742 1,906 72,648 65,825 4,848 70,673 Charltable actlvlties Room Hlre 6,936 6,936 6,936 6,936 7,842 7,842 Investments Dep051t Account Interest Recelved other HMRC ORS Grants 7,040 7,040 7,040 7,040 17,954 17,954 Total Income and endowments 86,626 86,626 96,469 Expendlture on: Employee costs Salarleslwages Staff tralnlng 72,808 665 73,473 72,808 665 73,473 33,008 33,008 Motor and travel costs Vehicles - Leasing and hire costs Vehlcles. Fuel Travel and subslstence 803 803 98 98 66 66 967 967 Premlse5 Costs Light, heat and power Premise5 cleanin8 3,447 150 3,447 150 3,597 3,832 809 4,641 3,597 General arlmlnlstratSve c05t5, including depreciation and amortisation Depreciation of Equipment repairs and maintenance 3,624 3,624 2,910 6,524 6,524 6,416 General insurances Stationery and printing Subscriptions 5undTy expense5 Telephone, fax and broadband 448 2,251 158 448 2,251 158 505 1,270 1.55 8,476 1,234 8,476 1,234 6,587 Page 14
Spring Bank Community Assoclatlon Detailed Statement of Financial Activlties 22,715 22,715 18,974 Legal and professional costs Accountancy and bookkeeplng 742 742 650 742 742 650 Total of expenditure of other costs Total expendlture Net Eains on investment5 101,494 101,494 57,273 101,494 101,494 57,273 Net lexpendlturel/lncome 114,8681 114,8681 39,196 Net lexpendlturelllncome before other gainslllossesl Other Galns 114,8681 114,8681 39,196 Net movement in funds 114,8681 114,8681 39,196 Reconclliatlon of funds.. Total funds brought forward 66,665 16,567 83,232 44,036 Total fund$ carrled forward 51,797 16,567 68,364 83,232 Page 15