Company Registration No. NI030816 (Northern Ireland)
CAUSEWAY VOLUNTARY ACTION TRUST (Being a company limited by guarantee and not having a share capital)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Charity Reference NIC102521-0
CAUSEWAY VOLUNTARY ACTION TRUST
CONTENTS
| Page | |
|---|---|
| Charity information | 1 |
| Trustees’ report | 2 – 7 |
| Independent Examiner’s report | 8 |
| Statement of financial activities | 9 – 10 |
| Balance sheet | 11 – 12 |
| Notes to the financial statements | 13 – 21 |
CAUSEWAY VOLUNTARY ACTION TRUST LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mrs Suzanne Brown | |
|---|---|---|
| Mrs Rachel Coural | Appointed 19 May 2023 | |
| Mr William Crymble | Appointed 19 May 2023 | |
| Mr John Mairs | ||
| Dr Christopher Martin | Appointed 19 May 2023 | |
| Mrs Deborah Mullan | Resigned 19 May 2023 | |
| Mrs Danielle Rosborough | Appointed 19 May 2023 | |
| Mrs Catriona Ross | ||
| Prof Arthur Williamson | ||
| Chairperson | Mr John Mairs | |
| Company number | NI030816 | |
| Charity number | NIC102521-0 | |
| Registered office | The Sandel Centre | |
| 6 Knocklynn Road | ||
| Coleraine | ||
| Co Londonderry | ||
| BT52 1WT | ||
| Independent Examiners | Ruth Walls | |
| Chartered Certified Accountants | ||
| 31 Lisnamuck Road | ||
| Coleraine | ||
| Co Londonderry | ||
| BT51 4HN | ||
| Solicitors | Thomas Taggart & Sons | |
| 27 Church Street | ||
| Ballymoney | ||
| BT53 6HS | ||
| Bankers | Santander | |
| Bridle Road | ||
| Bootle | ||
| Merseyside | ||
| L30 4GB |
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CAUSEWAY VOLUNTARY ACTION TRUST
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 JANUARY 2023
The Trustees present their report and financial statements for the year ended 31 January 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s Memorandum and Articles of Association, the Companies Act 2006 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)’ (effective 1 January 2019).
Objectives and activities
Purpose of the charity
The charity exists to promote the benefit of the people of Northern Ireland without distinction on grounds of gender, race or political, religious or other opinions by:
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the advancement of education;
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the relief of poverty and the provision of facilities in the interests of social welfare and for recreation with the object of improving the conditions of life for the said people; and
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such other charitable purposes of an exclusively charitable nature as the Trustees may from time to time in their sole and absolute discretion determine.
Principal activities of the charity
In 2022/23 the charity sought to advance the education of its beneficiaries by providing a space for various groups, businesses and charities to teach and encourage a number of skills in order to increase knowledge or understanding and provide an enjoyable hobby or experience. The variety and detail of these activities are listed below.
Training
There were classes held by organisations to teach specific skills necessary to meet regulations in the workplace, such as health and safety, first aid, best practice and current regulations and procedures. These were held for both charities and businesses not only from the local area but further afield such as Belfast and Londonderry.
Hobbies
There were hobby classes designed for adults such as flower arranging, Spanish classes, art class and Pilates. The former two were run by a charity called U3A that organises activities for those who are retired or semi-retired. We have continued to have Pilates classes and Oigong classes. Most of the classes held in the centre are open to all members of the public.
Support groups
The centre was home to several support groups such as Family Mediation NI, Weightwatchers, Tiny Life, Causeway Down Syndrome Support etc. thereby offering a place for the community to find relief from their situations and find support from those organisations that were best qualified to provide it. We have also welcomed new clients who have provided therapies on a self-employed basis such as Occupational and Speech Therapy.
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CAUSEWAY VOLUNTARY ACTION TRUST
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Charity training
Over the years we have supported charities by offering room hire at a discounted rate. They have used the rooms for training and support for those who are involved in the charities and have provided skills and training to sections of the community that we would not have the essential skills to help ourselves. By facilitating them, we have increased our ability to help those in disadvantaged situations without necessarily having the skill set required ourselves. We also continue to host charities that have been loyal to the centre for many years.
Meeting Spaces
We have continued to offer our rooms to organisations that need a space outside of their normal working environment or a common ground for a number of represented groups to gather. We have been a meeting place for local primary school principals to have a monthly meeting. Similarly, Axis Bioservices, Causeway Coast and Glens Borough Council and North Coast Association have used the centre for regular meetings. We have also been the venue for a number of funerals and weddings in the past year.
Community garden
The Mountsandel Community Garden was established in 2021 and is accessible to the general public 24/7. This year it was decided to have a weekly gardening hour with a time for chores and freshly baked homemade treats. It has been a great success as it enables people to come along and be a part of the community as well as having a beautiful and well maintained space for all.
Children’s classes
The centre was home to a number of children’s classes in the year 2022/23, with classes in baby massage and gardening club. We also have a mother and toddler group which is very well attended. The committee who run this group are constantly thinking of new ways to entertain both the children and the adults and make a special effort at times such as Christmas and Easter.
Youth services
There are regular activities specifically for young people that are held in the centre. This includes weekly youth club, Bible studies and training sessions along with one-to-one mentoring sessions also available.
Café
Within the building is a café which has recently been taken over by Ground Coffee & Kitchen. This has been a valuable way to provide a community hub and welcome visitors to the Sandel Centre.
Church
The building is also home to Mountsandel Christian Fellowship and by maintaining the building we have allowed them to focus on providing groups for the community such as mother and toddler, art class and youth club. They have also held an annual community event, Sandelfest, which involves a Children’s Club and teenager events. They also run art classes which are free and open to anybody that would like to attend. Monthly meetings called Young at Heart are available for anyone over 60 that provides entertainment and refreshments. From this, they have also started a Wednesday Get Together, which is a more informal setting for refreshments, a chat and friendship. There is also a weekly walking group for men who go for a short walk and then have a coffee together.
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CAUSEWAY VOLUNTARY ACTION TRUST
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Community
The charity, CVAT, works closely with the church to hold children’s seasonal events, family friendly walks and also a Christmas Fair which has been a great success in the last couple of years. These are to promote the centre as a place that can be used by families and is open to all ages of the community, free of charge.
The charity has also been proactive this year in finding ways to tackle mental health issues mainly by incorporating the 5 Steps to Wellbeing as promoted by the Public Health Service. This has not only been highlighted in the existing activities but also in a week of events around the time of Blue Monday in January.
The charity wants the centre to be used by the community as much as possible so that they find a place where they can find activities that interest them, a relief from their hardship or somewhere that they feel included in a community. The number and variety of the groups that have used the centre this year is demonstrative of the wide range of people who are benefitting from the centre being in the Knocklynn area. We are constantly trying to widen the range and number of groups that know about the centre and use it for their benefit.
Achievements and performance
It is always hard to measure the outcome of the welfare of the individuals who use the centre as we are not always the direct contact with them. This would be monitored by the organisations that hire the venue. We do, however, keep records of the organisations that use the rooms and are pleased that we were able to offer highly discounted rates as well as a 20% discount rate to charities and the Education Board. We are determined to provide quality venue hire at affordable prices and so it is good that we have been able to do that this year. The high level of charities and counsellors that have used the centre has also been an achievement as we want the centre to function as a place to meet a need within the community whether that be physically, mentally, spiritually or emotionally.
The charity works hard at making the centre available to the general public as much as possible. By providing spacious and well-maintained rooms at affordable prices, they hope that clients will benefit from using the centre. We offer discounts to charity groups and community groups as we are aware that they need to keep costs as low as possible. We also offer generous discounts to start up groups, to take some pressure off them as they begin a new venture.
The centre not only benefits those who are looking for inclusion in a community or to learn new skills but also those who are needing relief from difficult circumstances such as health issues (both physical and mental), bereavement, age concerns and family issues. The parents and carers in the community have a number of classes and groups to attend for their children: enabling them to learn new skills and providing an environment for community to develop.
In order to ensure that the building is a safe place for hire, we have carried out regular inspections on the electrics, lift and fire alarm. We also ensure that the insurance is up to date and that any groups using the building have the relevant insurances in place. We also ask that they provide PAT testing certificates for any portable devices they may use while in the centre.
The centre often has groups using the building who advertise their events with the Sandel Centre as the address. In this way the committee benefit from the publicity arranged by the groups but this is incidental when providing the community with information about the event and therefore is necessary in doing so.
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CAUSEWAY VOLUNTARY ACTION TRUST
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Financial Review
The results for the year are set out on page 10. The company returned net outgoing resources for the year of £629 (2022 – £5,855). At 31 January 2023 the total funds of the charity amounted to £16,397 (2022 - £17,026) comprising unrestricted income funds of £9,700 (2022 - £12,026), unrestricted designated funds of £4,306 (2022 - £nil) and restricted funds of £2,391 (2022 - £5,000).
Reserves policy and going concern
The Trustees recommend that the deficit of £629 be transferred to the total income funds brought forward. The relevant fund now has a balance of £16,397.
The Trustees consider that with the continued support of its bankers, the reserves retained by the company are sufficient for its ongoing needs.
Plans for the future
Causeway Voluntary Action Trust plan to work hard in 2023/2024 to provide a safe and welcoming environment. Ground Coffee & Kitchen are now an integral part of what the centre has to offer and are providing a great service to the community and centre clientele. We plan to redesign the website for the Sandel Centre and provide a dedicated area for Ground Coffee & Kitchen to promote itself and be able to facilitate online bookings for the catering service offered to our clients. It is our hope to integrate the online booking platform, Skedda (introduced Sept 2023) with our invoicing platform to save considerable admin time and cost. This will free up more time for business development opportunities to be explored by the new Centre Manager. It is also hoped that we can attract new target audiences to come along to “open-days” in Spring 2024 - showcasing what the Sandel Centre can offer to potential new clients over our competitors. We would also hope that Ground Coffee & Kitchen would play an active part in these promotional days. We also plan to continue to offer more community focused events to help eradicate some of the effects left behind from the pandemic to tackle mental health issues and loneliness – across all ages.
Structure, governance and management
Causeway Voluntary Action Trust continues to operate as a not-for-profit charitable organisation with Company Limited by Guarantee status and was incorporated on 14 May 1996. The company was established under a Memorandum of Association which established the objectives and powers of the company and is governed by its Articles of Association. The liability of its members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up.
The organisation is governed by a Board of Trustees, comprising of 8 in total. The Board meet on a bi-monthly basis and are serviced by the chairperson of the company. The Trustees manage the business of Causeway Voluntary Action Trust and may exercise all the powers of the company. The Trustees have the power at any time and from time to time to appoint any person to be a Trustee.
New Trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making process, the strategic priorities and recent financial performance of the charity. They are free to discuss any issue with other current Trustees or employees. Trustees are encouraged to attend any appropriate external training events where these will facilitate the undertaking of their role. This provides an understanding of what Charity Trusteeship entails and the responsibilities and duties that go with that position. It is planned to facilitate a further examination of direction, with a view to strategic sustainability and succession on an ongoing basis.
The registered office of the company is The Sandel Centre, 6 Knocklynn Road, Coleraine, Co Londonderry, Northern Ireland, BT52 1WT. The company registration number is NI030816.
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CAUSEWAY VOLUNTARY ACTION TRUST
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
The Trustees, who are also the Directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mrs Suzanne Brown Mrs Rachel Coural (appointed 19 May 2023) Mr William Crymble (appointed 19 May 2023) Mr John Mairs Dr Christopher Martin (appointed 19 May 2023) Mrs Deborah Mullan (resigned 19 May 2023) Mrs Danielle Rosborough (appointed 19 May 2023) Mrs Catriona Ross Prof Arthur Williamson
Appointing of Trustees
Appointment of Trustees can be effected by a decision of the existing Trustees, and termination of the role of Trustee can be effected by a Trustee submitting a written resignation or being determined no longer capable or allowed by law to continue in the role.
Related parties and co-operation with other organisations
Any connection between a Trustee or senior manager of the charity with any related parties must be disclosed to the full board of Trustees in the same way as any other contractual relationship with a related party. In the current year any such related party transactions are reported in note 18 to the accounts.
Statement of Trustees’ responsibilities
The Trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing the financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principals in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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CAUSEWAY VOLUNTARY ACTION TRUST
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement as to disclosure to our Independent Examiners
Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the independent examination, but of which the Independent Examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the Independent Examiner is aware of such information.
The Trustees’ report was approved by the Board of Trustees.
Mr John Mairs
26 October 2023
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CAUSEWAY VOLUNTARY ACTION TRUST
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF CAUSEWAY VOLUNTARY ACTION TRUST FOR THE YEAR ENDED 31 JANUARY 2023
I report on the financial statements of the charity for the year ended 31 January 2023 which are set out on pages 9 to 21.
Respective responsibilities of Trustees and Independent Examiner
As the charity Trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
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examine the financial statements under section 65 of the Charities Act;
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follow the procedures laid down in the general Directions given by the Charity Commission for
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Northern Ireland under section 65 (9)(b) of the Charities Act; and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s report
I have examined your charity financial statements as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65 (9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as charity Trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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that accounting records were not kept in accordance with section 386 of the Companies Act 2006;
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that the financial statements do not accord with those accounting records;
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that the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; and
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that there is further information needed for a proper understanding of the financial statements to be reached.
Independent Examiner’s statement
I have completed my examination and have no concerns in respect of the matters listed above, and in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Ruth Walls Association of Chartered Certified Accountants 31 Lisnamuck Road Coleraine Co Londonderry BT51 4HN
26 October 2023
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CAUSEWAY VOLUNTARY ACTION TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2023
| Note Income and endowments from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 6 Total income Expenditure on: Charitable activities 6 Net (outgoing)/incoming resources before transfers |
Unrestricted funds general 2023 Unrestricted funds designated 2023 Restricted funds 2023 Total 2023 Unrestricted funds general 2022 Unrestricted funds designated 2022 Restricted funds 2022 Total 2022 £ £ £ £ £ £ £ £ 6,700 - 8,916 15,616 - - 5,000 5,000 45,125 - - 45,125 18,678 - - 18,678 2 - - 2 - - - - - - - - 14,755 - - 14,755 |
|---|---|
| 51,827 - 8,916 60,743 33,433 - 5,000 38,433 54,153 694 6,525 61,372 35,400 - 8,888 44,288 |
|
| (2,326) (694) 2,391 (629) (1,967) - (3,888) (5,855) |
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CAUSEWAY VOLUNTARY ACTION TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2023
| Note Net (outgoing)/incoming resources before transfers Gross transfers between funds Net (expenditure)/income for the year/Net movement in funds Fund balances at 1 April 2022 Fund balances at 31 March 2023 |
Unrestricted funds general 2023 Unrestricted funds designated 2023 Restricted funds 2023 Total 2023 Unrestricted funds general 2022 Unrestricted funds designated 2022 Restricted funds 2022 Total 2022 £ £ £ £ £ £ £ £ (2,326) (694) 2,391 (629) (1,967) - (3,888) (5,855) - 5,000 (5,000) - - - - - |
|---|---|
| (2,326) 4,306 (2,609) (629) (1,967) - (3,888) (5,855) 12,026 - 5,000 17,026 13,993 - 8,888 22,881 |
|
| 9,700 4,306 2,391 16,397 12,026 - 5,000 17,026 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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CAUSEWAY VOLUNTARY ACTION TRUST
BALANCE SHEET AS AT 31 JANUARY 2023
| Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Net assets Income Funds Restricted funds Unrestricted funds - designated Unrestricted funds - general |
2023 £ £ 9,286 6,309 4,673 10,982 (3,871) 7,111 16,397 2,391 4,306 9,700 16,397 |
2023 £ £ 9,286 6,309 4,673 10,982 (3,871) 7,111 16,397 2,391 4,306 9,700 16,397 |
2022 £ £ 5,407 7,349 7,094 14,443 (2,824) 11,619 17,026 5,000 12,026 17,026 |
2022 £ £ 5,407 7,349 7,094 14,443 (2,824) 11,619 17,026 5,000 12,026 17,026 |
|---|---|---|---|---|
| 10,982 (3,871) |
14,443 (2,824) |
|||
| 16,397 |
17,026 | |||
| 2,391 4,306 9,700 |
5,000 12,026 |
|||
| 16,397 | 17,026 |
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CAUSEWAY VOLUNTARY ACTION TRUST BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2023
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 January 2023. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements.
The Trustees responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board on 26 October 2023 and signed on its behalf by:
Mrs Suzanne Brown Trustee
Company Registration No NI030816
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
1 Accounting policies
Charity information
Causeway Voluntary Action Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is The Sandel Centre, 6 Knocklynn Road, Coleraine, Co Londonderry, BT52 1WT.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity’s Memorandum and Articles of Association, the Companies Act 2006 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)’ (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
Under FRS 102 the company is exempt from the requirement to prepare a cashflow statement on the grounds that it qualifies as a small company.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. The COVID-19 global pandemic has led to some uncertainty after the year end, but the Trustees remain satisfied that adequate resources are available to allow the company to continue to operate. As a result, the Trustees are comfortable with and continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the objectives of the charity unless the funds have been designated for other purposes.
Designated funds are unrestricted funds set aside at the discretion of the Trustees for specific purposes. The designated funds for fixed assets are that part of unrestricted funds that represents fixed assets held.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
1 Accounting policies (continued)
- 1.4
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy and there is sufficient certainty that receipt of the income is considered probable. The following specific policies are applied to particular categories of income.
Investment income is included when receivable.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant income included in this category provides funding to support programme activities and is recognised where the entitlement, certainty of receipt and amount can be measured with sufficient reliability.
1.5
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods and services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable.
Tangible fixed assets and depreciation
1.6 Tangible fixed assets and depreciation Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Office Equipment 20% reducing balance Furniture 15% reducing balance Coffee Shop Equipment 20% reducing balance
The gain or loss arising on the disposal of an asset in determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the period.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible 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).
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually and whenever there is an indication that the asset may be impaired.
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
1 Accounting policies (continued)
- 1.8
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
1 Accounting policies (continued)
1.10 Taxation
The company is a charity (Charity No NIC102521-0) and is recognised as such by HM Revenue and Customs for taxation purposes. As a result, there is no liability to taxation on any of its income.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Donations Grants |
Unrestricted Funds Designated Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ 6,700 - - 6,700 5,000 - - 8,916 8,916 - |
|---|---|
| 6,700 - 8,916 15,616 5,000 |
4 Income from charitable activities
| Room hire and catering Rent receivable Services recovered |
Unrestricted Funds Designated Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ 26,709 - - 26,709 12,850 12,575 - - 12,575 5,110 5,841 - - 5,841 728 |
|---|---|
| 45,125 - - 45,125 18,678 |
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
5 Investments
| Unrestricted | Designated | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | |
| 2023 | 2022 | ||||
| £ | £ | £ | £ | £ | |
| Bank interest | 2 | - | - | 2 | - |
6 Other income
| Job retention scheme Covid-19 charities fund |
Unrestricted Funds Designated Funds Restricted Funds Total Funds 2023 Total Funds 2022 £ £ £ £ £ - - - - 9,755 - - - - 5,000 |
|---|---|
| - - - - 14,755 |
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
7 Costs directly attributable to charitable activities
| Repairs and maintenance Advertising Motor and travel expenses Bad debts provision Donations and gifts Legal and professional fees General expenses Repayment of tenant deposit Depreciation Loss on disposal of fixed assets Share of governance costs (see note 8) Share of support costs (see note 9) Analysis by fund Unrestricted funds – general Unrestricted funds – designated Restricted funds For the year ended 31 January 2022 Unrestricted funds – general Restricted funds |
Total Funds 2023 £ 5,954 180 3 3,228 - 1,400 2,152 - 1,727 - |
Total Funds 2022 £ 12,194 180 2 - 490 - 792 1,500 1,010 14 |
|---|---|---|
| 14,644 1,651 45,077 |
16,182 371 27,735 |
|
| 61,372 | 44,288 | |
| 54,153 694 6,525 |
35,400 8,888 |
|
| 61,372 | ||
| 44,288 |
| 8 Governance costs Insurance Legal and professional fees |
2023 £ 2022 £ 951 (179) 700 550 1,651 371 |
|---|---|
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CAUSEWAY VOLUNTARY ACTION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
| Support costs Salaries Employer’s pension contributions Rates Light and heat Telephone and postage Stationery and printing Computer expenses |
2023 £ 2022 £ 25,058 19,599 937 520 540 512 17,613 6,463 690 591 75 50 164 - |
|---|---|
| 45,077 27,735 |
9 Support costs
10 Trustees
During the year Mrs C Ross, Trustee of the charity, was paid £13,979 (2022 - £10,288) by virtue of her employment.
11 Employees
Number of employees
The average number of employees (excluding directors) during the year was:
| Office and management Employment costs Wages and salaries Social security costs |
2023 Number 2022 Number 3 3 2023 £ 2022 £ 25,058 19,599 - - |
|---|---|
| 25,058 19,599 |
No employee received emoluments in excess of £60,000 during the year.
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
| 12 Tangible fixed assets Coffee Shop Equipment Furniture Office Equipment Total £ £ £ £ Cost At 1 February 2022 9,973 19,609 7,343 36,925 Additions - 4,917 689 5,606 At 31 January 2023 9,973 24,526 8,032 42,531 Depreciation At 1 February 2022 9,273 14,971 7,274 31,518 Charge for the period 140 1,435 152 1,727 At 31 January 2023 9,413 16,406 7,426 33,245 Net book value At 31 January 2023 560 8,120 606 9,286 At 31 January 2022 700 4,638 69 5,407 13 Debtors 2023 £ 2022 £ Amounts falling due within one year: Trade debtors 5,694 7,349 Other debtors 615 - 6,309 7,349 14 Creditors 2023 £ 2022 £ Amounts falling due within one year: Trade creditors 43 1,876 Accruals 3,828 948 3,871 2,824 |
Coffee Shop Equipment Furniture Office Equipment Total £ £ £ £ 9,973 19,609 7,343 36,925 - 4,917 689 5,606 |
Coffee Shop Equipment Furniture Office Equipment Total £ £ £ £ 9,973 19,609 7,343 36,925 - 4,917 689 5,606 |
|---|---|---|
| 9,973 24,526 |
8,032 42,531 |
|
| 9,273 14,971 140 1,435 |
7,274 31,518 152 1,727 |
|
| 9,413 16,406 |
7,426 33,245 |
|
| 560 8,120 |
606 9,286 |
|
| 700 4,638 |
69 5,407 |
|
| 2023 £ 2022 £ 5,694 7,349 615 - |
||
| 6,309 7,349 |
||
| 2023 £ 2022 £ 43 1,876 3,828 948 |
||
| 3,871 2,824 |
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CAUSEWAY VOLUNTARY ACTION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
15 Retirement benefit schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit and loss in respect of defined contribution schemes was £937 (2022 - £520).
16 Analysis of net assets between funds
| Unrestricted | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| funds | designated | funds | ||
| funds | ||||
| 2023 | 2023 | 2023 | 2023 | |
| £ | £ | £ | £ | |
| Fund balances at 31 January | 2023 are represented by: | |||
| Tangible assets | 9,286 | - | - | 9,286 |
| Current assets/(liabilities) | 414 | 4,306 | 2,391 | 7,111 |
| 9,700 | 4,306 | 2,391 | 16,397 |
17 Capital commitments
There were no capital commitments as at 31 January 2023.
18 Related party transactions
Included within rent receivable is an amount totalling £4,200 (2022 - £3,600) received from Mountsandel Christian Fellowship, a charity with a common Trustee, Prof Arthur Williamson. The balance due in respect of this at 31 January 2023 and included within trade debtors was £600 (2022 - £300).
- 21 -