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
Page 3
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||||
Page 5
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