THE PRISON SERVICE TRUST
(A company limited by guarantee)
DIRECTORS’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2023
Company Registration Number: NI 43324 Charity Registration Number: NIC107071
As approved by the directors on 24th April 2023
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
CONTENTS
| PAGE | |
|---|---|
| DIRECTORS AND ADVISORS | 1 |
| REPORT OF THE DIRECTORS | 2 - 5 |
| REPORT OF THE AUDITORS | 6 - 8 |
| STATEMENT OF FINANCIAL ACTIVITIES | 9 |
| INCOME AND EXPENDITURE ACCOUNT | 10 |
| BALANCE SHEET |
11 |
| STATEMENT OF CASH FLOW | 12 |
| NOTES TO THE FINANCIAL STATEMENTS | 13 - 16 |
| INCOME AND EXPENDITURE ACCOUNT SCHEDULE | 17 |
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
1
DIRECTORS AND ADVISORS
DIRECTORS Finlay Spratt Chairman Tanya Spratt Vice Chair June Robinson Secretary Moira Kerr Honorary Treasurer Chris Brown (appointed 25/11/22) Len Duddy (appointed 25/11/22) Pamela Hegarty Samuel Jameson Stephen Kerr Simon Marshall (appointed 24/2/23) Jill McArthur John McCready (resigned 30/9/22) Colin McGrugan (resigned 30/9/22) Jim Smyth (resigned 2/12/22) Ronald White (appointed 24/2/23) SECRETARY June Robinson REGISTERED OFFICE Hydebank Wood Hospital Road Purdysburn Belfast BT8 8NA AUDITORS James Fulford and Co. Chartered Accountants PO Box 152 Newtownards BT23 5GW BANKERS Ulster Bank Limited Bangor Branch 75 Main Street Bangor BT20 5AL SOLICITORS Cleaver Fulton Rankin 50 Bedford Street Belfast BT2 7FW
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
2
THE REPORT OF THE DIRECTORS OF THE COMPANY
We, the directors of The Prison Service Trust , present our report below. The Audited Financial Statements for the year ended follow on page 9, and they are preceded by the Report of the Auditors.
REFERENCE AND ADMINISTRATIVE DETAILS FOR PRISON SERVICE TRUST:
The registered name of the organisation is Prison Service Trust. It is both a Northern Ireland registered company limited by guarantee and a registered charity. The company registration number is NI 43324 and the registered charity number is NIC107071. Whilst this is our registered name, we are also known as PST.
We are based at Hydebank Wood, Hospital Road, Purdysburn, Belfast, BT8 8NA and this is the registered office of the company.
OBJECTIVES AND ACTIVITIES
Objectives of Prison Service Trust
The objects of The Prison Service Trust are the relief of poverty of serving members of the Northern Ireland Prison Service and their dependents, former members of the Northern Ireland Prison Service who are medically retired and their dependents, and the widows, widowers, family members and dependents of those members of the Northern Ireland Prison Service who died in service.
Mission Statement
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Prison Service Trust are seeking to improve the lives of those whom they serve. Services include: 1) health care – incorporating physical and emotional wellbeing
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2) life planning – incorporating education, career and financial planning and
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3) support services – incorporating welfare, family and social development.
The Secretary of State authorised the set up of the charity, with funding available outside the budget of the Northern Ireland Prison Service. The Prison Service Trust aims to help our clients re-integrate back into the community following bereavement and exit from employment from the Northern Ireland Prison Service. When the Prison Service Trust was established, we were advised by the (then) Minister, Jane Kennedy, to take on the format of a private limited company.
Key Objectives & Achievements for the year 2022-2023
In the year 2022-2023 Prison Service Trust made progress towards achieving its objectives set at the beginning of the year:
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1) On-going contact with clients who would otherwise be isolated and alone
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2) Rehabilitation of clients by encouraging them to broaden themselves and engage with the wider community
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3) Assisting clients who continue to suffer hardship, both physical and mental
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
3
THE REPORT OF THE DIRECTORS OF THE COMPANY (Continued)
Significant activities, achievements and performance
The total number of clients has grown from 427 at the time the PST was established to 828 today. We have established procedures to ensure all clients are contacted and we encourage them to avail of our services, including:
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1) health care – incorporating physical and emotional wellbeing
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2) life planning – incorporating education, career and financial planning and
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3) support services – incorporating welfare, family and social development.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Prison Service Trust was incorporated as a Limited company on 28[th] May 2002 as a not for profit organisation.
The Memorandum and Articles of Association of Prison Service Trust specify the objects of the company are to relieve the need, hardship and distress of members of the Northern Ireland Prison Service or ex-members who are in necessitous circumstances, and the widows, family members and dependents of deceased prison staff.
Directors of the organisation are elected at the annual general meeting and they can serve for four years before being eligible for re-election. Any additional directors appointed to the Board after the annual general meeting has taken place retire at the next annual general meeting. The Chairman is appointed by the Directors and has responsibility for the management of the staff of the organisation; the Board determine the organisational structure of the company. Changes affecting senior staff or any major programme of the organisation involves a consultation process by the Board of Directors of the company before approval for changes is given. Annual budgets are prepared and presented to the Directors for approval before the start of each financial year.
The company has a policy for the induction and training of new Directors. They are provided with an induction package giving details of the history of the organisation, the memorandum and articles of association, responsibilities of Directors, previous year accounts, the organisational structure and the major programmes of the organisation. This is accompanied by a briefing by the Chairman on current activities of the organisation, introduction to senior staff and existing Directors and an overview of the current financial situation of the company.
RISK MANAGEMENT
Prison Service Trust carries out regular risk management reviews of all aspects of its operations. Two areas are identified as key areas of risk management; Health & Safety and the issue of client confidentiality. Extensive steps have been taken to establish procedures and appropriate training in the organisation to manage these risks. The Directors review these procedures on an annual basis.
RESULTS FOR 2022 - 2023
In the period there was a net excess of expenditure over income, as shown in the statement on page 9. This deficit has been deducted from reserves brought forward.
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
4
THE REPORT OF THE DIRECTORS OF THE COMPANY (Continued)
PLANS FOR 2023 – 2024
The work required in the incoming financial year is the same as the year just completed i.e.
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1) On-going contact with clients who would otherwise be isolated and alone
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2) Rehabilitation of clients by encouraging them to broaden themselves and engage with the wider community
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3) Assisting clients who continue to suffer hardship, both physical and mental
Budgets have been prepared and we are continuing to streamline operations so that overheads and costs of delivery are appropriate for the level of activity we are able to provide. Funding by The Department of Justice has been agreed for the 2023-2024 financial year.
VOLUNTEERS
Prison Service Trust is dependent on the generosity of the volunteers who provide support at various levels of the association’s activities.
The Board of Management of the organisation is comprised of volunteers meeting monthly to oversee the management of the organisation, and several of these Directors provide financial or personnel oversight at a more detailed level.
Clients are also supported directly by a group of volunteers. The volunteers are suitably trained and supported and they are able to act as our eyes and ears to a much greater extent than we would otherwise be able to achieve. This is why we are able to service such a high number of clients with only one full time member of staff.
This represents approximately another 5000 hours of volunteer service carried out behalf of The PST each year. As a result our clients are given positive encouragement and development each week. The financial value of this voluntary service would be in excess of £100,000 each year. We are very grateful to each and every volunteer who gives of their time to contribute to the personal development and wellbeing of all our clients.
FIXED ASSETS
The change in the fixed assets is shown in note 5 to the accounts.
TAXATION STATUS
The company is a recognised charity, and we have therefore claimed exemption from tax.
DIRECTORS
The directors of the company are also the trustees of the charity. The board members during the year ended 31 March 2023 were:
Finlay Spratt (Chairman) Stephen Kerr Tanya Spratt (Vice Chair) Simon Marshall (appointed 24/2/23) June Robinson (Secretary) Jill McArthur Moira Kerr (Honorary Treasurer) John McCready (resigned 30/9/22) Chris Brown (appointed 25/11/22) Colin McGrugan (resigned 30/9/22) Len Duddy (appointed 25/11/22) Jim Smyth (resigned 2/12/22) Pamela Hegarty Ronald White (appointed 24/2/23) Samuel Jameson
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
5
THE REPORT OF THE DIRECTORS OF THE COMPANY
(Continued)
As part of the constitution of the company all Board members who have served four consecutive years or more retire at the Annual General Meeting of the company, together with those directors appointed during the year. The directors due to retire at the Annual General Meeting offer themselves for re-election.
STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently;
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make judgements and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
STATEMENT OF DIRECTORS’ CONFIRMATIONS
In the case of each of the persons who are directors at the time when the report is approved, the following applies:
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a) so far as each director is aware, there is no relevant audit information (information needed by the company’s auditors in connection with preparing their report) of which the company’s auditors are unaware; and
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b) each director has taken all the steps that he ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company’s auditors are aware of that information.
FUTURE SUPPORT
We are very grateful for all of the support, both financial and otherwise, which we have received. Please continue to help us in any way you can, or contact us if you would like further information about the Prison Service Trust.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
BY ORDER OF THE BOARD
June Robinson COMPANY SECRETARY
24th April 2023
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
6
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE PRISON SERVICE TRUST
Opinion
We have audited the financial statements of Prison Service Trust (the “Charity”) for the year ended 31 March 2023 which comprise the Statement of Financial activities, Income and Expenditure Account, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements:
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give a true and fair view of the state of the Charity’s affairs as at 31 March 2023 and of its incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the directors’ report (incorporating the strategic report and the directors’ report) prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors’ report (incorporating the strategic report and the directors’ report) has been prepared in accordance with applicable legal requirements.
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
7
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PRISON SERVICE TRUST (Cont’d)
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Annual Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report
Responsibilities of the directors
As explained more fully in the directors’ responsibilities statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested for unusual transactions and investigated the rationale behind significant or unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with HMRC, relevant regulators and the Charity’s legal advisors.
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
8
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PRISON SERVICE TRUST (Cont’d)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the Charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charityʼs members those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the Charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.
James Fulford FCA Senior Statutory Auditor
for and on behalf of James Fulford & Co Ltd, Statutory Auditor. Chartered Accountants PO Box 152 Newtownards BT23 5GW
24th April 2023
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
9
STATEMENT OF FINANCIAL ACTIVITIES
| Incoming from Voluntary income Investments Total Expenditure on: Charitable activities Total resources expended Net movement in funds Reconciliation of Funds Net Movement in funds (above) Total funds brought forward Total Funds Carried Forward |
Restricted Funds 2023 £ 292,559 989 293,548 317,895 317,895 (24,347) (24,347) 255,210 230,863 |
Prior Year 2022 £ 303,602 12 |
|---|---|---|
| 303,614 | ||
| 276,129 | ||
| 276,129 | ||
| 27,485 | ||
| 27,485 227,725 |
||
| 255,210 |
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
10
INCOME AND EXPENDITURE ACCOUNT
| YEAR ENDED 31 MARCH NOTE Income, Donations and other receipts 1(b) Operating expenses 2 Other Income 2 Operating (Deficit) For The Year Reserves Brought Forward Reserves Carried Forward 6 |
2023 £ 292,559 (317,895) 989 (24,347) 255,210 230,863 |
2022 £ 303,602 (276,129) 12 |
|---|---|---|
| 27,485 227,725 |
||
| 255,210 |
Continuing operations - None of the company's activities was acquired or discontinued during the above two financial years.
Historical cost profit and losses - The difference between the results disclosed above and the results on an unaudited historical cost basis is not material.
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
11
BALANCE SHEET
| AS AT 31 MARCH NOTE £ FIXED ASSETS 5 CURRENT ASSETS Sundry debtors and prepayments 55,278 Bank and cash balances: Department of Justice (1,416) Donating Widows and Retired Officers 165,653 Donating Age Retired Officers 22,955 Serving Officers 42,255 284,725 CURRENT LIABILITIES Accruals and Sundry Creditors (53,863) NET CURRENT ASSETS TOTAL NET ASSETS REPRESENTED BY Revenue Reserves 6 SIGNED FOR AND ON BEHALF OF THE BOARD OF DIRECTORS Finlay Spratt June Robinson |
2023 £ 1 230,862 230,863 230,863 |
2022 £ £ 1,964 79,460 30 170,175 20,792 56,607 327,064 (73,818) 253,246 255,210 255,210 DIRECTOR DIRECTOR |
2022 £ 1,964 253,246 |
|---|---|---|---|
| 255,210 | |||
| 255,210 |
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
STATEMENT OF CASH FLOW
| Net movement in funds per SOFA Non-cash items and other adjusting items Add: Depreciation charge (Increase)/decrease in debtors (Decrease)/Increase in creditors Net cash provided by (used by) operations Cash flow from financing activities Purchase of fixed assets Net increase (decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Represented by: Cash and bank balances |
2023 £ (24,347 ) 1,963 24,182 (19,955 ) 6,190 (18,157 ) - (18,157 ) 247,604 229,447 229,447 |
2022 £ 27,485 |
|---|---|---|
| 1,965 (30,700 ) 21,568 |
||
| (7,167) 20,318 - |
||
| 20,318 227,286 |
||
| 247,604 | ||
| 247,604 |
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
13
NOTES TO THE FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) and the Companies Act 2006. Prison Service Trust is a registered charity and a public benefit entity. The currency used for the reporting of these financial accounts is Sterling (GBP).
1 ACCOUNTING POLICIES
The following accounting policies have been used consistently in dealing with items which are considered material in relation to the company’s financial statements.
(a) Basis of Accounting
The financial statements are prepared under the historical cost convention. This means that all assets and liabilities are shown at their original cost, less depreciation if appropriate. Therefore the balance sheet values shown do not necessarily equate to market value.
(b)
Income
Income includes gifts, donations and other cash received and receivable.
Income was attributable to the one principal activity of the company carried on within the United Kingdom and Europe.
(c) Fixed Assets and Depreciation
Fixed Assets are stated in the balance sheet at cost, less accumulated depreciation. Depreciation is calculated to write off the cost of fixed assets evenly over their estimated useful lives. The rates of depreciation used are as follows:
Plant and Machinery 33[1] /3 %
(d) Fund Accounting Policy
Unrestricted income funds are general funds that are available for use at the directors’ discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area for specific purposes, the use of which is restricted to that area or purpose.
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
14
NOTES TO THE FINANCIAL STATEMENTS
2 OPERATING SURPLUS/(DEFICIT)
| OPERATING SURPLUS/(DEFICIT) | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| is stated after charging | ||
| Auditors' remuneration (including VAT) | 1,560 | 1,560 |
| Depreciation | 1,963 | 1,965 |
and after crediting |
||
| Interest Received | 989 | 12 |
3 DIRECTORS EMOLUMENTS
All Directors give their services as Board members on a voluntary basis, and no remuneration is paid to them for this work.
4 PARTICULARS OF EMPLOYEES
The analysis by function of the average number of people employed by the company during the period (excluding directors) was:
| Administration Their remuneration was: Wages and salaries Social Security costs Pension contributions |
2023 1 2023 £ 28,983 - 681 29,664 |
2022 1 |
|---|---|---|
| 2022 £ 28,414 - 666 |
||
| 29,080 |
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
15
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
5 FIXED ASSETS
| COST At 31 March 2022 At 31 March 2023 DEPRECIATION At 31 March 2022 Charge for the year At 31 March 2023 NET BOOK VALUE At 31 March 2023 |
Plant & Machinery £ 8,405 |
|---|---|
| 8,405 | |
| 6,441 1,963 |
|
| 8,404 | |
| 1 |
6 REVENUE RESERVES
| Donating Widows and Retired Officers Donating Age Retired Serving Officers Total Reserves |
Reserves B/Fwd 31 March 2022 £ 177,811 20,792 56,607 255,210 |
Surplus/ (Deficit) £ (12,158) 2,163 (14,352) (24,347) |
Reserves C/Fwd 31 March 2023 £ 165,653 22,955 42,255 |
|---|---|---|---|
| 230,863 |
Revenue Reserves arise from the receipt of donations, grants and interest received applicable to the relevant category of designated funds. Each area of funding is ultimately reflected in cash resources available, and the reserves are equal to the funds shown on the balance sheet. Funding received from DOJ is represented by bank balances, accruals and, where cut-off adjustments arise, a deferred asset or liability accordingly. The reserves balance with DOJ is always nil.
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST Financial Statements For The Year Ended 31 March 2023
16
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
7 SHARE CAPITAL
The company is limited by guarantee, the maximum liability of each member being £1.
8 APPROVAL OF FINANCIAL STATEMENTS
These financial statements were approved by the Board of Directors on 24th April 2023.
James Fulford and Co. Ltd Chartered Accountants
THE PRISON SERVICE TRUST
17
Financial Statements For The Year Ended 31 March 2023
INCOME AND EXPENDITURE ACCOUNT SCHEDULE
| YEAR ENDED 31 MARCH 2023 INCOME Department of Justice grants Donating Widows and Retired Officers Age Retired Serving Officers Bank Interest Received OPERATING EXPENSES Wages and related expenses Website update Payments to relieve hardship etc. Courses, Programme Costs etc. Distributions and payments Costs re Gift Aid Insurance Accountancy Audit Legal expenses Training Stationery, Postage Advertising General Expenses Travel Expenses Bank Charges Deferred income (expenditure) Depreciation Total Expenses SURPLUS/(DEFICIT) FOR THE YEAR |
DOJ £ 248,000 - - - - 248,000 29,664 944 48,379 164,344 - - 1,099 1,560 1,560 - 1,600 4,177 2,146 458 896 (10,790) 1,963 248,000 - |
Widows/ Medically Retired £ - 16,729 - - 727 17,456 - - - 3,489 25,952 - - - - - - - - - 173 - - 29,614 (12,158) |
Age Retired £ - - 2,700 - - 2,700 - - - 500 - - - - - - - - - 37 - - 537 2,163 |
Serving Officers £ - - - 25,130 262 25,392 - - 4,040 4,720 30,657 240 - - - - - - 42 - 45 - - 39,744 (14,352) |
Total £ 248,000 16,729 2,700 25,130 989 293,548 29,664 944 52,419 172,553 57,109 240 1,099 1,560 1,560 - 1,600 4,177 2,188 458 1,151 (10,790) 1,963 317,895 (24,347) |
Prior Year Change £ £'000 248,000 - 21,253 (5) 11,315 (9) 23,034 2 12 1 |
|---|---|---|---|---|---|---|
| 303,614 (10) |
||||||
| 29,080 1 7,636 (7) 62,427 (10) 119,327 53 23,170 34 - - 1,093 - 1,560 - 1,560 - 1,500 (2) - 2 8,291 (4) 1,489 1 262 - 800 - 15,969 (27) 1,965 - 276,129 41 |
||||||
| 27,485 (51) |
James Fulford and Co. Ltd Chartered Accountants